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Mastercard integrates stablecoin payments

A partnership between Immersve and Mastercard will enable users to make crypto payments in digital, physical, and metaverse worlds.

By Mike Hesp
• 2 min read
Mastercard integrates stablecoin payments

A partnership between Immersve and Mastercard will enable users to make crypto payments in digital, physical, and metaverse worlds. The New Zealand tech company announced it in a press release.

To enable merchants that Mastercard Online supports to accept payments for goods and services, customers can connect their wallet to the service.

The payment service relies on the USDC stablecoin. Once a transaction is confirmed by the customer, the system automatically converts USDC coins into fiat currency.

According to Immersve CEO Jerome Faury, this allows customers to "transact directly from their crypto wallet, wherever Mastercard online is accepted." Immersve also said the service would initially enter testing in New Zealand and Australia.

"Partnering with a well-known, trusted brand like Mastercard is a big step toward mainstream Web3 wallet adoption," said Faury.

Meanwhile announced that USDC-Emmitent Circle is building out staff and weighing in on the current regulatory push from the US Securities and Exchange Commission.

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