To allow cryptocurrency payments in the virtual environment of Metaverse, Web 3.0 payment protocol Immersve teamed up with the industry-leading payment network Mastercard. Other digital and physical payments will also be the main area of concentration for the significant strategic alliance between centralized and decentralized networks.
This union will be made feasible through the partnership’s use of USDC, a stablecoin produced by Circle. Every USDC payment will be converted into fiat money before being used to complete transactions on the Mastercard network.
Decentralized protocols will be used by the cooperation to carry out real-time bitcoin transactions on websites that accept Mastercard payments. Users will be able to make direct cryptocurrency payments using their current Web3 wallets thanks to this breakthrough without the need for a third party to act as collateral.
Also, users will be able to access the service using web 3.0 wallets and conduct transactions using private keys.
“Collaborating with a well-known and reputable brand like Mastercard is a huge step towards general acceptance of Web3 wallets,” said Immersve CEO Jerome Faury.
In addition, web 3.0 wallets and DeFi protocols may be integrated with Immersve’s APIs and smart contracts to enable transactions everywhere Mastercard is accepted.
To open up new use cases, Mastercard is actively embracing the crypto world. Mastercard has forged strategic alliances with a number of platforms over the years, including Coinbase, Binance, Paxos, hi, and others.
Compiled by Coinbold