MasterCard has selected diamond provenance startup Everledger for its summer startup incubator.

One of seven companies to join the 2016 Start Path Global program, Everledger will receive assistance from MasterCard to scale its operations and enter new markets.

The startups will begin the program by working with MasterCard during a week-long immersion in London, followed by the six-month virtual program that ends with the Start Path Global Partner summit in New York this November.

Advisors include Rakuten, TSYS and Royal Bank of Canada.

Founded in 2015, London-based Everledger uses blockchain technology to track the history of diamond ownership to help ensure the ethical extraction of the gems.

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