Mastercard Teams Up with Immersve to Enable Direct Crypto Payments

Web3 payment protocol Immersve has partnered with Mastercard to enable direct cryptocurrency payments across digital, physical, and metaverse worlds. The partnership allows users to make crypto payments without relying on third-party collateral. Once transactions are successful, United States dollar-backed stablecoin USD Coin (USDC) tokens issued by Circle are converted to fiat to settle transactions on Mastercard's network.

This partnership uses decentralized protocols to settle real-time cryptocurrency transactions on outlets accepting Mastercard payments online, ensuring that users can conduct secure and efficient transactions. Immersve will partner with a third-party settlement provider, allowing its users to use USDC for all purchases. Users can access this feature through popular Web3 wallets and approve payments using private keys, eliminating the need for third-party providers to process transactions.

Jerome Faury, CEO of Immersve, believes that this collaboration with a trusted brand like Mastercard is a significant step towards mainstream adoption of Web3 wallets. By integrating with Mastercard's network, Immersve is making it easier for more people to embrace cryptocurrencies and enjoy the benefits of a decentralized financial system.

Mastercard has been fostering numerous partnerships over the years to remain relevant in the crypto ecosystem. One such initiative was its partnership with Binance to launch a prepaid card in Latin America that allows real-time crypto-fiat conversions for 14 tokens in Brazil. At the time of the launch, perks included up to 8% cash back in crypto on eligible purchases and zero fees on some ATM withdrawals.

This partnership with Immersve is another step in Mastercard's journey towards mainstream adoption of cryptocurrencies. By embracing this new technology, Mastercard is positioning itself as a leader in the payments industry, giving consumers more options and making it easier for them to transact securely and efficiently without the need for third-party providers.