Peaq joins Mastercard Start Path program, connects DePIN with tradfi

by

As a researcher with a background in blockchain technology and experience in the fintech industry, I’m excited about Peaq’s recent acceptance into Mastercard’s Start Path program. This is a significant milestone for the layer 1 blockchain focused on decentralized physical infrastructure networks (DePIN) and machine real-world assets (RWAs).

Peaq, a layer 1 blockchain, has become a participant in the Mastercard Start Path program.

Peaq’s representatives shared with crypto.news that PayPal’s initiative aims to back advanced-level projects in the fintech and web3 sectors, including Peaq – a layer 1 blockchain for decentralized physical infrastructure networks and machine real-world assets.

As a Mastercard collaborator, I will delve into various intriguing applications that bridge the Deposit Payment Institutions (DePIN) domain and conventional finance (tradfi) and fintech with peaq’s support. The initiative additionally offers projects an opportunity to broaden their network by forging new strategic partnerships, cultivating communities, and securing funding among other benefits.

Sabrina Tharani, Mastercard’s Senior Vice President of Global Fintech Programs, expressed their commitment to exploring new chances for collaboration with startups in shaping the future of blockchain technology and digital assets innovation. Five emerging companies – Kulipa Inc., Parfin, peaq, Triangle Digital, and Venly – have recently joined Mastercard’s Start Path program.

Sabrini Tharani, Senior Vice President of Global Fintech Programs at Mastercard, stated, “These innovative startups will gain entry to our extensive network of collaborators, offering them mentorship and resources for expanding their solutions and entering new markets.”

As a researcher studying the financial technology (fintech) sector, I can tell you that integrating traditional finance (TradFi) into DePin will significantly enhance its functionality. This integration will open up new possibilities, such as assigning payment methods that meet all regulatory requirements for an electric vehicle transaction. Additionally, it will enable offline payment options for charging station sessions. These features will make DePin more user-friendly and efficient in managing financial transactions related to the electric vehicle ecosystem.

“Through our collaboration with Mastercard, the foremost payments processing company, we will facilitate seamless exchanges between DePINs and traditional financial services, making it simple for millions of web2 natives to be part of this transformation,” Till Wendler, co-founder of peaq, stated in a press release.

Read More

2024-05-15 21:27