Major CEX Launches Crypto Payment Card on Mastercard Network in Australia, Enabling USDC Payments

Gate News message, April 24 — A leading centralized exchange has launched a crypto payment card in Australia, partnering with Mastercard and Immersve to enable crypto-backed payments at merchants accepting Mastercard, including Google Play and Apple Pay. The service supports USDC and 37 USDC trading pairs, with digital assets converted to fiat currency at checkout before Mastercard settlement. Users can earn up to 2% cashback on transactions based on their VIP tier and trading volume. The product is currently virtual-only, with no physical card or ATM access at this stage.

The initiative reflects the exchange's commitment to real-world crypto utility and trust-first infrastructure. The CEO stated that the partnership increases Mastercard acceptance among Australian users while ensuring user protections and clear compliance standards. The product builds on the exchange's AUSTRAC DCE registration, demonstrating commitment to responsible innovation. The Australian Managing Director noted that utility is the turning point for digital asset adoption, and the card connects digital assets to real commerce through a familiar Mastercard experience.

Jerom Faury, CEO of Immersve, described the collaboration as a major step toward mainstream adoption of digital assets for everyday purchases, calling it a "game-changer." Christina Rau, Senior Vice President of Digital Commercialization at Mastercard, emphasized the partnership reflects the company's commitment to responsible Web3 innovation and enabling safe, compliant spending of digital assets at scale.

Axis One Markets Pty Ltd is authorized to provide certain financial services on behalf of Immersve, while the card is issued solely by Immersve. Users are advised to review the relevant disclosure documents including the Product Disclosure Statement, Financial Services Guide, and Target Market Determination before using the service. Immersve affirms adherence to Australian anti-money laundering and counter-terrorism financing standards.