Mastercard Enables Cryptocurrency Payments from Web3 Wallet by Partnering Immersve
Mastercard has partnered with Web3 company Immersve to enable Australians and New Zealanders to make digital, tangible, and metaverse buying straightforwardly from their Web3 wallets wherever Mastercard is welcomed. To utilize the functionality, users will select the Immersve icon on their Web3 wallet and sign transactions with their private key.
The USDC stablecoin will then be exchanged for fiat currency and resolved on Mastercard’s system via a collaboration between Immersive and a third-party payment processing firm. Immersve utilizes Mastercard Identity Services and CipherTrace technology for KYC/AML, online fraud detection, and blockchain statistics.
Immersve CEO Jerome Faury explains, “Immersve is essentially constructing links that enable participants to perform transactions directly from their cryptocurrency wallet wherever Mastercard is taken online.”
“We want to introduce the finest technology and ideals of web3 to everyday disbursement situations. But we also want to provide conventional safeguards, such as the consumer safety of the Mastercard network, to cryptocurrency natives conducting online transactions.”