Mastercard to launch cryptocurrency payments on the blockchain

Immersve, a payment protocol for blockchain projects, has entered into a partnership with the international financial corporation Mastercard. As part of the collaboration, cryptocurrency holders and users interested in virtual reality will be able to conduct transactions in metaverse, digital marketplaces, and simply by shopping in regular stores.

Special decentralized protocols will be used for transactions. Users will be able to make direct crypto payments using their own Web3-enabled wallet. Each transaction will be signed with the user’s key. Wallets and DeFi protocols will also be able to use Immersve’s software interface and smart contracts.

«Working with such a well-known brand with an excellent reputation as Mastercard will be a powerful leap towards the general adoption of Web3 wallets,» said Immersve CEO Jerome Faury.

Over the past few years, Mastercard has entered into many partnerships with crypto companies. It is possible that these collaborations help to maintain the payment system’s media presence in the crypto industry. One such initiative was Mastercard’s partnership with crypto exchange Binance, where they launched a debit card in Latin America. Brazilian citizens can now convert 14 tokens into fiat.

In January, it became known that Mastercard Corporation announced plans to create its own NFT collection. The project will be a part of the initiative to help artists who want to develop their brands through the Web3 space. As part of the initiative, the Mastercard Artist Accelerator program will be created, which will use the Polygon blockchain.