MasterCard chooses two UAE based startups for its Crypto Start Path Program

 

MasterCard Start Path Program chooses two of the newly announced seven start-ups from UAE. They include Abu Dhabi digital asset exchange Fasset, as well as Dubai based TBTM (Take Back the Mic) Studios which is building the world’s first blockchain-based media fintech, turning culture into currency by rewarding fans and compensating creators for building communities around great content.

In July 2022, Middle East and UK crypto exchange Fasset announced its collaboration with Mastercard to expand its financial reach in Indonesia, after the exchange raised $22 million USD. Fasset currently has operations in Bahrain and the United Arab Emirates. Fasset was granted authorization by the Central Bank of Bahrain to test asset tokenization in the country’s fintech regulatory sandbox.

MasterCard in its endeavor to enhance user experience in NFTs, Blockchain gaming and metaverse has chosen to collaborate with innovative fintech entities working in the Web3 and crypto sphere. 

MasterCard is providing through its program an express lane for Web3 and crypto startups to grow and an ecosystem for them to thrive. As per the press release, “Through the Mastercard Start Path global startup engagement program, we work with digital asset, blockchain and cryptocurrency-based companies that share a vision to make blockchain technology and digital assets more accessible. These companies are making strides to bridge the gap between Web2 and Web3 and meet consumers where they are today. We’re welcoming a new cohort of startups to ease access to digital assets, build communities for creators and empower people to innovate for the future through Web3 technologies. These companies will join the more than 350 companies from 40 countries that have participated in Start Path since 2014.”

Other start-ups include Singapore based Digital Treasures Center, U.S. based  Loot Bolt, Quadrata, as well as Uptop in addition to Columbian based Stable.

The newest Start Path cohort will engage in growth-essential opportunities including technology collaboration, mentorship, access to channels and customers, and the opportunity to accelerate their digital asset innovations and expand into new markets. 

Since its inception in 2014, Mastercard Start Path has fielded applications from over 1,500 startups every year and the program has helped more than 350 businesses attract well over $3.5 billion in funding.

Blockchain, digital asset and crypto companies are invited to apply for the Mastercard Start Path Crypto program.