Business News Report
February 22, 2023

Mastercard and Immersve to Enable USDC Payments in the Physical and Digital Worlds

Mastercard and Immersve to Enable USDC Payments in the Physical and Digital Worlds

Payment giant Mastercard partners with web3 protocol Immersve to enable crypto payments via USDC. USD Coin, issued by Circle, is a stablecoin backed by the United States dollar.

The launch will allow individuals to pay in USDC at merchants that accept Mastercard payments online. In addition, users will have the possibility to make crypto purchases in web3 spaces like metaverses or decentralized services. 

Notably, the partnership will enable individuals to use their actual web3 wallets to make payments directly in crypto. Users’ USDCs will be converted to fiat currency once the transaction is done from the acquirers’ end. 

To enable customers to use USDC for payments without any third-party collateral provider, Immersve will collaborate with a third-party settlement provider.

Mastercard

The partnership between Mastercard and Immersv is a big step toward cryptocurrency adoption. The companies will help to further mainstream the use of crypto assets.

“We love the fact that our platform supports both centralized crypto payments and decentralized 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,”

said the CEO of Immersve, Jerome Faury. 

This is not the first time that Mastercard has introduced a crypto-related initiative. In August 2022, the company partnered with the largest cryptocurrency exchange Binance to facilitate cryptocurrency payments in over 90 million stores. In December 2022, Mastercard tapped Polygon and hi technology to issue customized web3 debit cards, while this January, the payment provider also announced the upcoming launch of a web3 music-themed accelerator together with Polygon. 

Read more about Mastercard: 

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

More articles
Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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