Daily Management Review

Mastercard launches new project to support cryptocurrency start-ups


Mastercard has launched a programme to support cryptocurrency and blockchain start-ups. Seven projects have already joined and will have access to "collaboration opportunities, knowledge and tools for growth".

Mastercard has announced the launch of a programme to support fast-growing companies that work in the areas of digital assets, blockchain and cryptocurrencies. The announcement was published on the company's website.

Seven start-ups have joined Mastercard's programme to "gain access to collaboration opportunities, knowledge and tools for growth", the announcement reads. They aim to "accelerate innovation in digital assets and make it safer and easier to buy, sell and store cryptocurrencies and digital assets." 

Mastercard plans to start working with some cryptocurrencies as part of its payment system this year, reported Raj Dhamodharan, the company's vice president of digital assets, blockchain and partnerships. 

He explained that now cryptocurrencies are first converted into traditional money and only then pass through the payment system, whereas the new rules will allow customers to make payments in digital currencies directly. However, according to Damodaran, for now, it is only about stabelcoins, that is, cryptocurrencies backed by real assets.

source: coindesk.com