Seven blockchain startups have been added to MasterCard's crypto accelerator program

Key points: 

• Mastercard announced that it has selected seven additional industry startups for its Start Path program to encourage the adoption of crypto and blockchain technology.
• According to the announcement, the selected companies will make bridging the gap between Web2 and Web3 one of their main goals. 
• To date, Mastercard has backed more than 350 startups, many of which have achieved unicorn status.

Global payments giant Mastercard continues to support cryptocurrency and blockchain startups under its fintech accelerator Mastercard Startup Path program.

Mastercard announced on Nov. 3 that it has selected seven additional industry startups for its Start Path program to encourage the adoption of crypto and blockchain technology.

New startups include crypto gateway provider Fasset, Singapore-based crypto payments platform Digital Treasures Centre, and Colombian stablecoin-focused firm Stable. Mastercard previously partnered with Fasset in July to jointly develop digital solutions to drive financial inclusion in Indonesia.

The latest Mastercard launch path program also includes Web3-focused social payments provider Loot Bolt, privacy startup Quadrata, blockchain-based media fintech project Take Back the Mic and brand-focused platform Uptop.

According to the announcement, the selected companies will make bridging the gap between Web2 and Web3 one of their main goals. Mastercard added:

"We welcome a new wave of startups to increase access to digital assets, build communities for developers, and empower people to innovate for the future through Web3 technologies."

Launched in 2014, Mastercard Start Path is a 6-month accelerator program designed to help startups develop and commercialize their products and services. To date, Mastercard has backed more than 350 startups, many of which have achieved unicorn status, including banking provider, Think Machine, and Indian fintech startup Zeta and Razorpay, among others.

In 2021, Mastercard launched its own Mastercard Start Path crypto division called Start Path Crypto. Crypto Accelerator is designed to support seed, Series A, and Series B startups involved in crypto and blockchain development, with a three-month support program.

Following recent additions, the Start Path Crypto program adds a total of 25 crypto-related startups, including Digital Wallet Uphold, crypto storage company GK8, and Emin Gun Sirer, CEO and founder of blockchain developer Ava Labs.

The latest news comes from Mastercard as it continues to strengthen its blockchain and crypto expertise. In mid-October, Mastercard launched a new program that allows banks to partner with Paxos to offer crypto transaction features and services to their customers. Previously, Mastercard partnered with the Coinbase exchange to allow Coinbase NFT users to make purchases with Mastercard’s card.