To facilitate transactions using Circle’s USDC, Mastercard has unveiled a new partnership with Immersve, a web 3 metaverse payment protocol.
This partnership will allow users to carry out transactions in physical, digital, and metaverse worlds. Following a successful transaction by users, the USDC will subsequently be converted to fiat and be used for payment on the Mastercard’s network.
The collaboration between Mastercard and Immersve will use decentralized protocols in order to settle real-time transactions in cryptocurrency on any platform where MasterCard payments are allowed online. Users will be able to use their existing Web3 wallets to make direct crypto payments without relying on a third party for collateral.
Instead, Immersve will partner with a third-party settlement provider and allow its users to use USDC for all purchases.
“Collaborating with a well-known and trusted brand like Mastercard is a big step towards mainstream adoption of web3 wallets,” says Jerome Faury, CEO at Immersve. “We love the fact that our platform supports both centralised crypto payments and decentralised experiences, to enable individuals to become the master of their money. Immersve is literally building bridges that make it possible for individuals to transact directly from their crypto wallet, anywhere Mastercard is accepted online. We want to bring the best of web3’s technology and values, to everyday payment experiences. But we also want to provide traditional guardrails, like the Mastercard network’s consumer protections, to crypto natives transacting online.”
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