Mastercard and Immersve let Australians and New Zealanders to use cryptocurrencies from their Web3 wallet to make digital, physical, and metaverse purchases wherever Mastercard is accepted.
Users will click on the Immersve button on their Web3 wallet to use the feature, and they will use their private key to sign transactions and approve them.
Then, thanks to a partnership between Immersive and a third-party settlement provider, the USDC stablecoin will be changed into fiat currency and settled on Mastercard’s network.
Immersve is also using technology from Mastercard Identity Services and CipherTrace to handle KYC/AML, find online fraud, and analyze blockchains.
The CEO of Immersve, Jerome Faury, says:
“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.”
