EQS-News: Advanced Blockchain AG: Portfolio Company peaq selected for award-winning Mastercard program

Advanced Blockchain AG: Portfolio Company peaq selected for award-winning Mastercard program

• peaq has joined the Mastercard Start Path program for Blockchain and Digital Assets.
• Through the program, peaq will explore ways to connect the DePIN sector with traditional finance (TradFi).
• Mastercard’s wide network of partners also opens the doors to new collaborations for the entire peaq ecosystem, facilitating innovative synergies between traditional finance and the Economy of Things.

May 16, 2024 – Advanced Blockchain AG ("AB", Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator and investor in the blockchain industry, announces that its portfolio company peaq has been selected by Mastercard for their Start Path - award-winning program providing global support for startups and high growth companies.

Founded in 2014, Start Path has supported more than 400 companies in the past decade, helping them access strategic partnerships, co-innovation opportunities, and engagement. Over the years, the program has expanded to reach new verticals, including fintechs focused on blockchain and digital assets.

Through the program, peaq will explore ways to connect the DePIN sector with traditional finance (TradFi). By joining the Start Path program, peaq has the opportunity to make transactions between its Decentralized Physical Infrastructure Networks (DePINs) and the fiat space immensely easier. Mastercard’s wide network of partners also opens the doors to new collaborations for the entire peaq ecosystem, facilitating innovative synergies between TradFi and the Economy of Things.

DePINs operate in real-world economies, which makes integrating traditional infrastructure, compliance, and legal frameworks critical for them to scale to billions of users. Decentralization is a gradual process, and peaq looks forward to advancing this process by another notch, making the prospect of large-scale DePIN payment solutions more realistic. With a wide variety of synergies to explore, DePINs could get the tools for frictionless mass adoption while staying true to Web3 values. Through Start Path, peaq has the opportunity to accelerate adoption, ensure compliance and legitimacy, and foster trust and user empowerment in Web3 and beyond.  

"A smooth and familiar user experience is crucial for DePIN and Web3 adoption. The Mastercard Start Path will help pave the way to easy interactions between DePINs and TradFi services, enabling millions of Web2 natives to join this transition. The world is moving from Web2 to Web3. Incumbents have a choice: adapt or become irrelevant," comments Till Wendler, co-founder of peaq.

“As digital assets become increasingly mainstream, Mastercard is embracing opportunities to support and collaborate with fintechs to build the future of blockchain and digital assets innovation through the Start Path engagement program. Mastercard has selected peaq to join its ecosystem of innovators and will provide opportunities to access its network of partners, mentorship opportunities and resources to support their scaling journey,” comments Sabrina Tharani, SVP of Global Fintech Programs at Mastercard.

About Advanced Blockchain AG: Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive network of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.

For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.

Contact: ir@advancedblockchain.com