May 15, 2024

peaq selected for award-winning Mastercard program

What is happening?

peaq has joined the Mastercard Start Path program for Blockchain and Digital Assets.

Why is it important?

The Start Path program is an opportunity to explore collaborations giving DePINs the TradFi convenience — while keeping their Web3 spirit and design.

What does it mean for the community?

First of all, it raises the prospect of more integrations to get excited about — and further solidifies the peaq community’s position at the spearhead of Web3’s push into the real world.

On Start Path

It’s time for crypto to get real, and peaq is already leading the way. Today, we’re proud to announce that peaq has joined Mastercard Start Path — an award-winning program designed to support promising projects across a variety of fintech and Web3 verticals. peaq will explore prospective implementations between the DePIN sector and the world of traditional finance and fintech. 

What is Mastercard Start Path?

Start Path is Mastercard’s startup engagement program. Founded in 2014, it has supported more than 400 companies in the past decade, helping them access strategic partnerships, co-innovation opportunities, and engagement. Over the years, the program has expanded to reach new verticals, including fintechs focused on blockchain and digital assets. Some of its Web3 participants include Revolut, blockchain cybersecurity company CUBE3.AI, and enterprise Web3 platform Crossmint.

peaq & Mastercard

Through the program, peaq will explore ways to connect the DePIN sector with traditional finance (TradFi). While peaq is fully dedicated to the Web3 ethos, the practicality of TradFi integration is undeniable, especially as the world transitions from Web2 to Web3. It would make DePINs more convenient, which opens the doors of Web3 to more users. It could also unlock fully regulation-compliant payment methods for all peaq DePINs and their users. Not to mention that conventional payments systems will make DePIN more accessible for businesses and communities looking to tap into everything the sector has to offer. 

By joining the Start Path program, peaq has the opportunity to make transactions between its DePINs and the fiat space immensely easier. But that’s not the only upside of the program. Mastercard’s wide network of partners also opens the doors to new collaborations for the entire peaq ecosystem, facilitating innovative synergies between TradFi and the Economy of Things.

DePINs operate in real-world economies, which makes integrating traditional infrastructure, compliance, and legal frameworks critical for them to scale to billions of users. Decentralization is a gradual process, and peaq looks forward to advancing this process by another notch, making the prospect of large-scale DePIN payment solutions more realistic. With a wide variety of synergies to explore, DePINs could get the tools for frictionless mass adoption while staying true to Web3 values. Through Start Path, peaq has the opportunity to accelerate adoption, ensure compliance and legitimacy, and foster trust and user empowerment in Web3 and beyond.  

"A smooth and familiar user experience is crucial for DePIN and Web3 adoption. The Mastercard Start Path will help pave the way to easy interactions between DePINs and TradFi services, enabling millions of Web2 natives to join this transition. The world is moving from Web2 to Web3. Incumbents have a choice: adapt or become irrelevant."

— Till Wendler, co-founder of peaq
“As digital assets become increasingly mainstream, Mastercard is embracing opportunities to support and collaborate with fintechs to build the future of blockchain and digital assets innovation through the Start Path engagement program. Mastercard has selected peaq to join its ecosystem of innovators and will provide opportunities to access its network of partners, mentorship opportunities and resources to support their scaling journey.”

— Sabrina Tharani, SVP of Global Fintech Programs at Mastercard

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