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MainNewsMastercard’s...

Mastercard’s Start Path Welcomes Five Startups to Develop Blockchain Use Cases


Mastercard’s Start Path Welcomes Five Startups to Develop Blockchain Use Cases
May, 16, 2024
3 min read
by Cryptonews
Mastercard’s Start Path Welcomes Five Startups to Develop Blockchain Use Cases

Mastercard announced the selection of five startups to participate in its Start Path blockchain and digital assets program on Wednesday to foster innovation in blockchain technology and digital asset utilization.

As part of Mastercard’s new initiative, these startups will explore new ways to use money to address real-world challenges, enhance user experiences, and broaden the utility of blockchain technology.

Mastercard Emphasizes Global Payments Expertise


Mastercard highlighted its experience constructing a global payments network, emphasizing its capability to connect regulated money, bank deposits, stablecoins, and central bank digital currencies (CBDCs) with startups. The program’s objective is to drive the development of new solutions that improve digital commerce user experiences.

Mastercard’s Start Path program will use blockchain technology’s unique capabilities by collaborating with industry experts and fintech startups to identify and develop use cases that address pressing societal needs.

Through the Start Path program, selected startups will gain access to special training, mentorship, and Mastercard’s network of customers and channels over four months. 

“Since the program was founded in 2014, Mastercard has supported more than 400 startups from 54 countries,” the press release noted.

Among the selected startups is Kulipa, a French-based company that facilitates crypto payment card issuance for digital wallets. Another chosen participant is UK-based Parfin, which focuses on developing enterprise-grade software products to assist financial institutions in adopting blockchain.

Singapore’s Peaq, recognized for providing permissionless and borderless digital infrastructure for real-world applications, was among the startups chosen for the program.

Triangle, a U.S.-based startup that prioritizes sustainability through a data platform integrating climate data with finance, and Venly, a Belgium-based startup simplifying blockchain integration for developers and businesses, were also selected to participate.

Commenting on the program, Kujipa founder Axel Cateland expressed optimism about unlocking mass crypto adoption and promoting wider financial inclusion through convenient global stablecoin payments.

Mastercard’s Successful Live Test of Multi-Token Network


In a recent announcement, Mastercard and Standard Chartered Bank Hong Kong (SCBHK) have completed the first live test of Mastercard’s Multi-Token Network (MTN). The proof-of-concept pilot involved tokenizing carbon credits within the Hong Kong Monetary Authority’s (HKMA) Fintech Supervisory Sandbox, showcasing a novel blockchain application in financial services.

In the pilot, a client of SCBHK’s virtual bank, Mox Bank, initiated the process by depositing funds into Mox and requesting a carbon credit.

Subsequently, Mox directed SCBHK to tokenize the carbon credit through Libeara, a tokenization service provider developed by Standard Chartered’s venture arm, SC Ventures. The MTN tokenized the deposit, and an atomic swap—a real-time exchange occurring across different blockchains—was executed to swap the tokens.

Mastercard launched the MTN in June 2023 using its private blockchain infrastructure. Previous trial runs of the MTN included collaborations with the Reserve Bank of Australia using wrapped central bank digital currency (CBDC) and the HKMA’s e-HKD CBDC.

Although these CBDCs are not yet live, the trials demonstrated the potential for such technologies in modernizing financial transactions.

The post Mastercard’s Start Path Welcomes Five Startups to Develop Blockchain Use Cases appeared first on Cryptonews.

Read the article at Cryptonews

Read More

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MainNewsMastercard’s...

Mastercard’s Start Path Welcomes Five Startups to Develop Blockchain Use Cases


Mastercard’s Start Path Welcomes Five Startups to Develop Blockchain Use Cases
May, 16, 2024
3 min read
by Cryptonews
Mastercard’s Start Path Welcomes Five Startups to Develop Blockchain Use Cases

Mastercard announced the selection of five startups to participate in its Start Path blockchain and digital assets program on Wednesday to foster innovation in blockchain technology and digital asset utilization.

As part of Mastercard’s new initiative, these startups will explore new ways to use money to address real-world challenges, enhance user experiences, and broaden the utility of blockchain technology.

Mastercard Emphasizes Global Payments Expertise


Mastercard highlighted its experience constructing a global payments network, emphasizing its capability to connect regulated money, bank deposits, stablecoins, and central bank digital currencies (CBDCs) with startups. The program’s objective is to drive the development of new solutions that improve digital commerce user experiences.

Mastercard’s Start Path program will use blockchain technology’s unique capabilities by collaborating with industry experts and fintech startups to identify and develop use cases that address pressing societal needs.

Through the Start Path program, selected startups will gain access to special training, mentorship, and Mastercard’s network of customers and channels over four months. 

“Since the program was founded in 2014, Mastercard has supported more than 400 startups from 54 countries,” the press release noted.

Among the selected startups is Kulipa, a French-based company that facilitates crypto payment card issuance for digital wallets. Another chosen participant is UK-based Parfin, which focuses on developing enterprise-grade software products to assist financial institutions in adopting blockchain.

Singapore’s Peaq, recognized for providing permissionless and borderless digital infrastructure for real-world applications, was among the startups chosen for the program.

Triangle, a U.S.-based startup that prioritizes sustainability through a data platform integrating climate data with finance, and Venly, a Belgium-based startup simplifying blockchain integration for developers and businesses, were also selected to participate.

Commenting on the program, Kujipa founder Axel Cateland expressed optimism about unlocking mass crypto adoption and promoting wider financial inclusion through convenient global stablecoin payments.

Mastercard’s Successful Live Test of Multi-Token Network


In a recent announcement, Mastercard and Standard Chartered Bank Hong Kong (SCBHK) have completed the first live test of Mastercard’s Multi-Token Network (MTN). The proof-of-concept pilot involved tokenizing carbon credits within the Hong Kong Monetary Authority’s (HKMA) Fintech Supervisory Sandbox, showcasing a novel blockchain application in financial services.

In the pilot, a client of SCBHK’s virtual bank, Mox Bank, initiated the process by depositing funds into Mox and requesting a carbon credit.

Subsequently, Mox directed SCBHK to tokenize the carbon credit through Libeara, a tokenization service provider developed by Standard Chartered’s venture arm, SC Ventures. The MTN tokenized the deposit, and an atomic swap—a real-time exchange occurring across different blockchains—was executed to swap the tokens.

Mastercard launched the MTN in June 2023 using its private blockchain infrastructure. Previous trial runs of the MTN included collaborations with the Reserve Bank of Australia using wrapped central bank digital currency (CBDC) and the HKMA’s e-HKD CBDC.

Although these CBDCs are not yet live, the trials demonstrated the potential for such technologies in modernizing financial transactions.

The post Mastercard’s Start Path Welcomes Five Startups to Develop Blockchain Use Cases appeared first on Cryptonews.

Read the article at Cryptonews

Read More

NeurochainAI Launches New Platform for Building AI dApps

NeurochainAI Launches New Platform for Building AI dApps

NeurochainAI introduces a platform to simplify AI dApp development, integrating machi...
Jun, 20, 2024
3 min read
by BTC-Pulse
Protocol Village: Farworld, Building Gaming on Farcaster, Raises $1.75M

Protocol Village: Farworld, Building Gaming on Farcaster, Raises $1.75M

The latest in blockchain tech upgrades, funding announcements and deals. For the peri...
Jun, 20, 2024
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