Financial Aggregator Fideum Wins Mastercard Lighthouse FINITIV Program
Financial aggregator Fideum has emerged as the winner of the Mastercard Lighthouse FINITIV program, which aims to merge crypto and traditional finance. Fideum received a “double award” as the regional Baltic class winner and the overall program winner, earning ongoing support from Mastercard and an invitation to pitch for Start Path, Mastercard’s global start-up engagement program. Additionally, Fideum won the popular vote and received the People’s Choice award. The company was chosen as the overall winner due to its vision of marrying established and upcoming features while ensuring regulatory compliance.
Bridging the Blockchain-TradFi Gap
Fideum aims to bridge the gap between the traditional financial sector (TradFi) and the digital asset market by offering a plug-and-play integration process for B2C and B2B users. It allows users to quickly and easily integrate cryptocurrencies and blockchain services into their solutions, enabling traditional players to participate in the crypto space. Fideum already supports 120 countries and has 30 institutional partners backing its solution.
Mastercard’s Recognition Highlights Critical Need for Fideum Solutions
According to CEO Anastasija Plotnikova, Mastercard’s recognition emphasizes the critical need for Fideum’s solutions in creating a seamless, regulated pathway for institutions to engage with crypto. Mats Taraldsson, Head of Innovation, Fintech, and Impact Tech Engagement at Mastercard Nordics and Baltics, believes that fintech companies like Fideum are at the forefront of a transformative shift in the financial technology industry.
Three More Start-ups Recognized
The winners were announced during Mastercard Lighthouse’s Grand Finale event at the SLUSH conference in Helsinki. Three other start-ups received awards in the FINITIV 2023 class: Vaulter, Bits Technology, and Starcart. The FINITIV program allows Nordic and Baltic fintech start-ups to work with investors, stakeholders, and tech partners to pursue partnerships and emerging trends in the industry. Applications for the 2024 program are now open.
Hot Take: Mastercard’s Support Signals Crypto and TradFi Convergence
Mastercard’s backing of Fideum as the winner of the Lighthouse FINITIV program highlights the growing convergence between crypto and traditional finance. Fideum’s innovative plug-and-play integration process aims to bridge the gap between the traditional financial sector and the digital asset market, enabling traditional players to participate in cryptocurrencies. With Mastercard’s ongoing support, Fideum is well-positioned to drive this convergence and create a seamless, regulated pathway for institutions to engage with crypto. This recognition from Mastercard reinforces the critical need for solutions like Fideum’s in the evolving financial landscape.
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