Mastercard has chosen five startups to join its Start Path program, aimed at boosting innovation in blockchain technology and digital assets. These startups will explore new ways to use money to solve real-world problems and improve user experiences.

The program will leverage Mastercard's expertise in building global payments networks, connecting various forms of money, including stablecoins and central bank digital currencies (CBDCs). The goal is to develop solutions that enhance digital commerce experiences.

Start Path participants will receive special training, mentorship, and access to Mastercard's network for four months. Since its inception in 2014, the program has supported over 400 startups from 54 countries.

Among the selected startups is Kulipa, a French company enabling crypto payment card issuance. Another participant is Parfin, a UK-based firm focusing on enterprise-grade blockchain solutions for financial institutions.

Peaq from Singapore provides digital infrastructure for real-world applications, while Triangle, based in the U.S., integrates climate data with finance for sustainability. Venly, based in Belgium, simplifies blockchain integration for developers and businesses.

Axel Cateland, founder of Kulipa, sees the program as a way to promote wider financial inclusion through global stablecoin payments.

In another development, Mastercard and Standard Chartered Bank Hong Kong (SCBHK) completed the first live test of the Multi-Token Network (MTN), tokenizing carbon credits within the Hong Kong Monetary Authority’s Fintech Supervisory Sandbox. This showcases blockchain's potential in financial services.

The MTN, launched in June 2023, aims to modernize financial transactions by tokenizing various assets. Previous trials included collaborations with central banks for CBDC testing.

In conclusion, Mastercard's Start Path program and the MTN pilot highlight the company's commitment to fostering innovation in blockchain technology and advancing digital commerce.