MasterCard To Incubate NFT-Focused Startup bitsCrunch Via Its “Start Path” Startup Engagement Program
April 06 2022 - 1:58PM
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bitsCrunch, the India and Germany-based blockchain analytics
company that leverages artificial intelligence (AI) and machine
learning (ML) to secure and safeguard the NFT ecosystem, unveiled
that it has been selected to join global payment services provider
MasterCard’s startup engagement program called the MasterCard Start
Path. Designed to help later-stage startups scale, the Start Path
program offers an extended product suite that helps startups reach
a global consumer base. With MasterCard quickly expanding into the
crypto ecosystem, the Start Path program focuses beyond payment
solutions, spanning into diverse areas such as fintech, blockchain,
eCommerce, AI, fraud prevention, financial inclusion, and much
more. Under the Start Path program, all selected projects gain
complete access to MasterCard’s ready-to-integrate APIs, fintech
tools, and solutions alongside the opportunity to put their ideas
in front of MasterCard’s global network of consumers, merchant
stores, and partners. According to Vijay Pravin Maharajan,
bitsCrunch CEO, “With tech-savvy tools, an incredible team, and
industry expertise, bitsCrunch ensures consistent quality and
safety across the digital assets startups. Collaborating with
MasterCard Start Path helps us deliver the best-in-class solutions
to emerging crypto industry customers and transforming business
landscapes. Also, we are glad that bitsCrunch will be incorporated
into the MasterCard Start Path program shortly.” bitsCrunch’s core
objectives align with MasterCard’s goals of fraud prevention,
financial inclusion, and several other areas. Currently, bitsCrunch
offers a diverse range of products, each designed to tackle the
lingering challenges of the NFT ecosystem, including wash trading,
forgeries, and inefficient asset valuation, among others. By
leveraging MasterCard’s infrastructure and global outreach,
bitsCrunch will be able to expand its presence in the mainstream
economy further. At the same time, MasterCard can leverage
bitsCrunch to offer its users direct access to the NFT ecosystem.
The platform’s range of products will help MasterCard’s non-crypto
users easily find, evaluate, and invest in NFTs and other digital
assets. Using bitsCrunch’s trio of NFT security services – Scour,
Liquify, and Crunch DaVinci – paired with its fast, accurate, and
reliable analytics services, MasterCard can ensure that its global
customers can make well-informed trading decisions across a wide
range of NFT assets. bitsCrunch’s products and analytics services
work across some of today’s leading blockchain ecosystems,
including Ethereum, Avalanche, Polkadot, and Polygon. The platform
recently raised $3.6 million from leading investment companies like
Polygon Studios, Coinbase Ventures, Crypto.com Capital, Spark
Digital, Bison Funds, and Gravity X, to name a few. Per the tweet
from the bitsCrunch team, these funds will help secure a presence
on other prominent blockchains like Algorand, Solana, and others.
Stressing the need for credibility for mainstream adoption of
digital assets, a spokesperson from the MasterCard Start Path
Program team notes, “With MasterCard, startups around the globe can
develop platforms across open banking, predictive financial
modeling for small businesses, smart rental payments, and more. The
partnership with bitsCrunch allows companies to access MasterCard’s
global ecosystem and reach new audiences through MasterCard
customers. The collaboration will provide safe and secure
transactions, which will enhance the brand’s credibility.”
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