By
Steve Muchoki
April 24th, 2024
Budding firms selected for this sponsorship are invited to Mastercard’s fintech network, where they are offered growth-essential prospects to cooperate and gain mentorship.
World’s second-largest payment processing corporation in the world Mastercard has listed seven fintech startups that will be invited to its Global Startup Engagement Program.
Mastercard Start Path, as the name suggests, helps budding businesses get the required funding for growth and development. Ever since its launch in 2014, the program has received applications from more than fifteen hundred startups every year. The program has also been able to fund and propel the course of action for over 350 companies with funding of more than $3.5 Billion.
Budding firms selected for this sponsorship are invited to the Mastercard fintech network, where they are offered growth-essential prospects to cooperate, gain mentorship and seek Mastercard’s Financial Technology innovation. This year, the program has welcomed seven corporations from five separate nations. From the United States, a Web3 Payments firm Loot Bolt, a crypto privacy and compliance enterprise named Quadrata, and Uptop, a UX design, and development agency have been invited.
The other companies have been invited from countries like Singapore, Abu Dhabi, Colombia, and Dubai. This one-stop party for several Web3 companies from different arenas, countries, and histories can be envisioned as a place where innovation is given the highest priority. Mastercard’s Start Path will be acting as a catalyst for boosting the adoption of Web3 and the upcoming Financial Technology ecosystems, notwithstanding the essentiality of conventional finance.
While we all know of Mastercard as that one company whose credits are always there in our wallets, the company is rather new to the crypto investment market. Having said that, it is not the only company to have looked up ways to trickle into the Blockchain business after its massive success.
In November 2021, the world’s largest centralized exchange (CEX) Binance revealed its $100 million investment in France. The collaboration with France FinTech was struck to make France and Europe a frontrunner in the blockchain and crypto space. While the project was named ‘Objective Moon’, it was supposed a reflect a new Binance Research and Development center in France, a DLT accelerator, and an online education program for French people.
Recently in April, Binance Chief Executive Officer Changpeng Zhao applauded France for their regulatory mandate that was supportive of the crypto industry at large. He also declared that his exchange had purchased a floorspace in the world’s largest startup incubator, Paris’s Station F. The building also houses more than a thousand startups and has listed Microsoft, Google, and Facebook as its associates.
The deal provides Binance’s chosen startups free accommodation and the availability of several resources during its incubation period. They can also access any type of technical support or mentorship from Binance’s employees or partners.