Immersve, a Web3 payment protocol, has teamed up with payment system behemoth Mastercard to facilitate cryptocurrency payments.
The companies announced the partnership, using decentralised protocols to facilitate crypto transactions. Locations and businesses that accept Mastercard payments, online and in-person, can support users of the new payment platform.
Immersve and Mastercard’s crypto payment system uses USDC stablecoins and allows users to integrate their Web3 wallets for direct payments.
Immersive also plans to partner with third-party settlement providers to sanction USDC purchases for card holders. This swaps USDC to fiat currencies while leveraging Mastercard’s payment network.
Additionally, card holders can integrate Web3 wallets and DeFi protocols on Immersve applications programme interfaces (APIs).
The news comes after Mastercard furthered ties to the Web3 industry with a cutting-edge accelerator programme. The company’s Start Path programme created a cohort of fintech startups to test new Web3 technologies.
Mastercard and affiliated experts trained, deployed, and facilitated cryptocurrency, payment, and blockchain technologies for the seven selected companies.
