First Cryptocurrency Exchange to Join Mastercard Program

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The worlds of traditional finance and cryptocurrencies are getting closer.

According to Finance Magnates, Globitex, the Latvia-based digital asset exchange, has become the first crypto company to take part in the Lighthouse Development Program (LDP) program that is spearheaded by Mastercard.

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Shaking things up

The program was launched back in 2018 in partnership with NFT Ventures to streamline the creation of fintech communities in the Nordic and Baltic regions. Its main purpose is to establish connections between different companies that are disrupting the financial industry.

Those firms that have the privilege to be part of the LDP can share their expertise with other influencers, explore the possibilities for potential partnerships with top-tier banks and even look for new funding opportunities.

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Recognizing an opportunity

Every six months, the LDP chooses thirty companies, which go through a thorough vetting process before joining the program. Given that Mastercard is competing directly with the rapidly growing cryptocurrency sector, the significance of Globitex getting under its wing shouldn’t be underestimated.

The payment giant would persistently stay away from cryptocurrency companies (despite dabbling with Blockchain), but Globitex is shaping up to be an ice-breaker.

We hope to prove ourselves to Mastercard and other program participants as a reliable and innovative strategic partner,” Globitex CEO Uldis Teraudkalns.

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