MasterCard To Incubate NFT-Focused Startup bitsCrunch Via Its “Start Path” Startup Engagement Program

By Happy from MWSJ Last updated Apr 6, 2022

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.”