Mastercard has partnered with Web3 payment protocol Immersve to enable users to make cryptocurrency payments in digital, physical, and Metaverse worlds. The transactions will be settled through USD Coin (USDC) tokens, a stablecoin backed by the US dollar issued by Circle. The partnership will use decentralized protocols to settle real-time cryptocurrency transactions on Mastercard's network. Users can use their existing Web3 wallets to make direct crypto payments without relying on a third party for collateral. Immersve will partner with a third-party settlement provider, allowing users to use USDC for all purchases. Once the transaction is successful, USDC will be converted to fiat before settling on Mastercard's network.
