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Peaq joins Mastercard Start Path program, connects DePIN with tradfi

source-logo  crypto.news  + 2 more 15 May 2024 19:57, UTC

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

Representatives of peaq, a layer 1 blockchain for decentralized physical infrastructure networks (DePIN) and machine real-world-assets (RWAs), told crypto.news that the payment giant’s program is designed to support promising advanced-stage projects in various fintech and web3 verticals.

With the help of Mastercard, peaq will explore many promising implementations linking the DePIN sector and the world of traditional finance (tradfi) and fintech. The program also helps projects expand their ecosystem with new opportunities to secure strategic partnerships, build communities, raise funds, and more.

Sabrina Tharani, SVP of Global Fintech Programs at Mastercard, said that the company is continuing to embrace the opportunities to support and innovate with startups to build the future of blockchain and digital assets innovation. Through the Start Path startup engagement program, the company welcomed Kulipa Inc., Parfin, peaq, Triangle Digital, and Venly.

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“This dynamic set of startups will receive access to our network of partners, including mentorship opportunities and resources to support them to scale their solutions and reach new markets,” said Sabrina Tharani, SVP of Global Fintech Programs at Mastercard.

The integration of tradfi will make DePIN more convenient, enabling use cases such as assigning fully compliant payment methods to an electric vehicle and paying offline for a charging session.

“The partnership with Mastercard, the leading payments processing platform, will pave the way to easy interactions between DePINs and tradfi services, enabling millions of web2 natives to join this transition,” Till Wendler, co-founder of peaq, said in a release.

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