Xaman Wallet collaborates with Immersve, a global web3 card issuing platform and principal member of Mastercard, to launch self-custodial web3 cards.
Xaman Wallet, formerly known as Xumm Wallet, has announced its partnership with Immersve to roll out a self-custody web3 cards powered by Mastercard.
Xaman Wallet announced the partnership in an August 15 post on X, quoting an Immersive tweet to the XRP community. The disclosure spotlighted a new functionality that will power the web3 MasterCard experience.
XRP community figure Eri reacted to the collaboration between Xaman Wallet and Immersve, congratulating Jerome Faury, the founder of Immersve, on the milestone.
In an August 14 blog post on its official website, MasterCard explained the motive behind the project and the rising need for self-custody web3 cards, which give users full control over their funds.
Mastercard emphasized that its new web3 program will usher in a Mastercard experience for self-custody wallet users. It is also expected to enable them to enjoy the global reach of Mastercard while having full control of their funds at the same time.
Other Partnerships
Mastercard has a similar partnership with industry leaders like MetaMask, Baanx Group, Monavate, and 1inch, as it aims to bridge the gap between the traditional and decentralized financial worlds.
Some basic features of the end product of these partnerships include Know Your Customer and anti-money laundering protocols. These new products also allow users to view transaction history and reverse transactions.
New Documentation for Decentralized Apps
Immersve, which focuses on issuing web3 cards designed for decentralized apps and exchanges, has already released detailed documentation for decentralized app developers. The documentation gives a framework to decentralized app developers who want to embed their own branded web3 Mastercard for their respective projects.
Xaman Wallet, rebranded from Xumm last December, is the leading self-custody wallet for the XRP Ledger, allowing users full control over their assets, unlike centralized wallets.