Ode to cryptocurrencies! – The Mastercard Start Path is an acceleration program for fintech startups. It is a 6-month path that helps startups develop and commercialize their products. Selected companies benefit from access to Mastercard’s technologies, expertise and resources
. This week, the payment services provider just announced the addition of 7 crypto startups to its incubator program.
Mastercard wants to build tomorrow’s blockchain infrastructure
Among the 7 new Start Path
participants, 4 are working to create robust and innovative blockchain infrastructures.
GK8 is an Israeli startup specializing in digital asset custody. The company uses a cryptographic algorithm to provide a cold wallet solution to its customers, while offering the functionality associated with hot wallets. This means that the platform is able to create, sign and send secure blockchain transactions without receiving data from the internet. This solution does not require an inbound connection and therefore eliminates vulnerabilities to cyber-attacks. The technology used by GK8 is essentially the same as Curv, which was acquired by Paypal in 2021
SupraOracles is a blockchain oracle that helps businesses bridge real-world data with public and private chains. The latter boasts of being significantly faster and more secure than its main competitor, Chainlink
. According to the company, a query to Chainlink would take up to 120 seconds, while its network responds in less than 10 seconds. SupraOracles has attracted the support of big names in finance and research, such as Cambridge University and Euronext. In parallel, its oracle system is already part of the NEAR ecosystem. Near Ecosystem – Source: Near
Hashstacs (or STACS) is a Singaporean company specializing in the creation of blockchain platforms that can be integrated with the existing infrastructure of financial institutions. The company’s goal is to address the fragmentation of technology systems used by financial institutions. E
n parallel, the company has launched its GreenSTACS service, which allows its clients to manage and certify their positive impact investments.
Finally, Swiss fintech Taurus is also joining the Mastercard incubator. The company offers a wide range of services to institutional clients, from digital asset custody to asset digitization
Blockchain platforms have a bright future ahead
The other 3 companies that joined the Start Path are developing platforms covering both retail and institutional needs
Domain Money, a US startup, is looking to build a next generation investment platform, bridging the gap between digital assets and traditional finance for retail investors. However, this project is the least advanced of the Mastercard startups and does not yet have an operational platform.
Mintable is a non-fungible token (NFT) marketplace
where users can create, buy and sell digital objects. This one is built on Ethereum and also supports the Zilliqa blockchain. The platform offers a “gasless” NFT manufacturing feature. This means that users can create NFTs on Ethereum without paying any transaction fees. Founded in 2018, Mintable claims to have helped create around 700,000 NFTs. Number of active wallets on NFT markets each week – Source: The Block
The latest entrant to the Start Path is Uphold, a US-based company that positions itself as a competitor to Robinhood and Coinbase. The Financial Industry Regulatory Authority (FINRA)-regulated company offers a multi-asset trading platform available to individuals and institutions alike. Uphold’s “Anything-to-Anything”
trading experience allows customers to trade stocks for cryptos, but also for precious metals.
Since 2014, over 250 startups have participated in Mastercard’s Start Path program. And since the beginning of 2021, Start Path has been accepting companies related to the crypto ecosystem. With this new batch entirely composed of crypto startups, Mastercard intends to strengthen its presence in the sector by building l
iens with companies operating in key segments. This is part of a global crypto strategy unveiled by the company in June 2021.
Bitcoin, Finance, Decentralized, crypto-assets, Oracles… these are all concepts that are increasingly becoming part of everyday life. Get ahead of the curve and start accumulate and trade your first bitcoins on the Swissborg platform and get a welcome bonus of up to €100 in cryptocurrencies (affiliate link, for a minimum deposit of €50)