Mastercard has announced a new partnership with Immersve to enable payments using USDC, a stablecoin pegged to the US dollar, on its network. The goal of this alliance is to make cross-border payments faster and more efficient while also making them more stable.
With this partnership, Mastercard hopes to use blockchain technology to give its customers more secure and faster ways to pay. The use of USDC also gives these transactions a stable value, which gets rid of the volatility that comes with cryptocurrencies.
According to the official statement by Mastercard, the company plans to roll out this new payment service in phases, starting in the US and expanding globally in the coming months. This move is expected to give Mastercard an edge in the market for digital payments, especially when it comes to transactions that take place across borders.
This partnership is part of Mastercard’s larger plan to grow in digital payments and use blockchain technology to its advantage. With this move, Mastercard is joining other big names in the financial industry that are looking into how stablecoins and blockchain technology could be used to make payments.
In summary, Mastercard’s partnership with Immersve to enable payments using USDC on its network is expected to offer faster and more efficient cross-border transactions with greater stability. The financial industry is becoming more and more interested in blockchain technology and stablecoins, and Mastercard’s decision to use this technology is a big step toward the future of digital payments.
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