Fintech is a combination of two words, namely Finance and Technology. Just like the name, a fintech enterprise offers financial services with the help of technology.
Mastercard reshaped the financial industry by introducing Debit and Credit cards for customers in 1960. With these two in their wallet, they needed to carry cash. Customers experienced convenience like never before and warmly welcomed this idea. Years later, plastic holding drives everyone’s life towards a better future.
Ankr x Mastercard
Every moment of Mastercard has been dedicated to constantly innovating and bringing out better features that can make customers’ lives much better. However, it takes two hands to play the drum, and Mastercard understands this very well. It has, therefore, initiated a Start Path program directed to help established and proven startups scale their businesses to reach a global user base.
The recent partnership of Ankr with Mastercard is a part of the Start Path program. Ankr broke out the news by publishing a blog post. It highlights the objective of Mastercard and ways in which the partnership will benefit both of them in the long run.
The blog post mentions the statement of Raj Dhamodharan, the EVP of Mastercard Digital Asset Products, from last year. He had said in his statement that Mastercard was in the industry to help customers, merchants, and businesses move the digital value in any way they wanted.
Digital value in the statement referred to both traditional and Cryptocurrency.
As a partner of Mastercard, Ankr gains access to its fintech resources, APIs, and other solutions. Mastercard and Ankr will work together to launch the upcoming products of Ankr and offer a better user experience. Future partnerships of Ankr will also be a part of the Start Path program.
Ankr, in return, will help Mastercard explore the option of considering staking to earn fixed income, something that it later aims to pitch to the entire industry.
Blockchain is the future, and the present makes it more evident. The currency banking system and financial services are less equipped to handle what is on its way. Players like Ankr have already architected blockchain infrastructure ready to be deployed.
Mastercard may consider leveraging the blockchain node infrastructure of Ankr to brace itself for the future that is loaded with Crypto payments. It is estimated that Mastercard has access to more than 50 networks.
If Mastercard goes ahead with it, it could set an example of how enterprises can carry forward their legacy and culture while moving with the time. Web3 is the future, and instead of ignoring it, banking and payment enterprises might prepare to embrace it.