• Mastercard and Web3 payment protocol Immersve have partnered together to enable users to make crypto payments on digital, physical and the metaverse worlds.
• The transactions will be settled by USDC tokens, a United States dollar-backed stablecoin issued by Circle.
• Users can use their existing Web3 wallets with Immersve’s APIs and smart contracts to transact anywhere Mastercard is accepted.
Mastercard Partners With Web3 Payment Protocol Immersve
Mastercard has announced a partnership with Web3 payment protocol Immersve that will allow users to make cryptocurrency payments on digital, physical and metaverse worlds. The transactions will be settled using USDC tokens – a United States dollar-backed stablecoin issued by Circle.
USDC Tokens To Settle Crypto Transactions On Mastercard’s Network
Once the user has initiated the transaction successfully, USDC tokens will get converted into fiat currency and used to settle transactions on Mastercard’s network. Furthermore, users can access this feature through popular Web3 wallets and use their private keys to approve payments.
Integrating Decentralized Finance Protocols Into Smart Contracts
Web3 wallets and decentralized finance protocols can be integrated into Immersve’s APIs and smart contracts in order for users to transact anywhere where Mastercard is accepted. This makes it easier for customers to make purchases without relying on a third party for collateral.
Immersve CEO Shares Optimism Towards Crypto Use Cases
Immersve CEO Jerome Faury expressed optimism towards crypto use cases stating: “Collaborating with a well-known and trusted brand like Mastercard is a big step towards mainstream adoption of Web3 wallets.”
Enabling Real-Time Cryptocurrency Transfers On Outlets Accepting Mastercard Payments
The partnership between Mastercard and Immersve enables real-time cryptocurrency transfers on outlets accepting Mastercard payments online. This makes it convenient for customers who want an easy way of making payments without involving third parties or waiting long periods of time for confirmations from banks or other financial institutions.