Immersive
Immersve is a Web3 payment protocol and Mastercard principal member that enables exchanges, Web3 wallets, and DeFi protocols to issue crypto-funded physical and virtual cards accepted at 70M+ merchants globally via APIs and smart contracts.
- Company typePrivate
- Founded2022
- HeadquartersAuckland, New Zealand
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Immersive does
Immersve (legal entity: Immersve Limited, NZBN 9429050083725; Australian subsidiary Immersve Pty Ltd, ABN 93 658 192 057) is a Web3 payment protocol and Mastercard principal member that enables centralized and decentralized payment experiences through card issuing APIs and on-chain smart contracts. Founded in 2022 in Auckland, New Zealand, the company operates a multi-chain issuing-as-a-service platform supporting EVM networks (Ethereum, Polygon, Arbitrum, Base, BNB Smart Chain, Sei), non-EVM chains (Algorand, Xahau), and a roadmap including Solana, Avalanche, Tron, Stellar, NEAR, Cosmos, and Optimism. Its core technology stack includes a Universal EVM funding protocol, non-custodial smart contracts for direct wallet-to-card spending, and REST APIs with authentication via Algorand Login, Sign-In with Ethereum, and XRPL Login. Card products include physical debit cards, virtual cards, and xPays, all tokenized for Apple Pay and Google Pay, and accepted at over 70 million Mastercard merchant locations globally.
Immersve serves three primary B2B segments: cryptocurrency exchanges seeking a crypto-to-fiat offramp (e.g., KuCoin KuCard in Australia), Web3 wallet providers enabling self-custodial spending at merchants (e.g., Bitget Wallet across Latin America and Africa), and DeFi protocols integrating trustless card funding via smart contracts. A separate BIN sponsorship product enables non-crypto-native businesses to become Mastercard affiliates and launch their own branded card programs using Immersve's technology and regulatory licences. Revenue is generated through three streams: per-transaction interchange on crypto-funded card purchases, a 1.5% foreign currency conversion fee on non-USD transactions, and BIN sponsorship / managed services fees from partner programs.
The company is venture-backed, having raised one of New Zealand's largest seed rounds in 2023 from global VC investors, and is led by co-founders Jerome Faury (CEO), Matic Lesjak (Chief Innovation Officer), and Nathan Jones (Principal Engineer). Immersve holds SOC 2 Type 2 certification, New Zealand FSP registration (FSP1003031), Australian AFSL (545925), and is a member of the Mastercard Crypto Partner Program, with active regulatory pursuits across Europe, the UK, the USA, Hong Kong, Singapore, and the UAE. Headcount is 51-100 employees and operations are remote-first across these geographies.
Immersive firmographics
Firmographics- Name
- Immersive
- Legal name
- Immersve Limited
- Website
- https://immersve.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Immersve is a Web3 payment protocol and Mastercard principal member that enables exchanges, Web3 wallets, and DeFi protocols to issue crypto-funded physical and virtual cards accepted at 70M+ merchants globally via APIs and smart contracts.
- Ownership category
- akta.pro rank
Immersive industry classification
Industry- Product category
- Web3 Payment Infrastructure
- NAICS
- Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Personal Credit Institutions (6141)
- akta.pro primary industry
- Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid) (FSADAIAC)
- akta.pro secondary industries
- Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Prepaid Card Program Managers & Issuers (BIN Sponsors) (FSAMANAK), Virtual Prepaid & Single-Use / Tokenized Cards (FSAMANAJ)
Keywords
Where Immersive is headquartered
LocationHeadquarters
- HQ city
- Auckland
- HQ country
- New Zealand
- HQ region
- Oceania
Offices2 records
Markets served
Immersive business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Crypto Card Transactions: Revenue generated from transaction fees when users spend cryptocurrency via Immersve-issued cards. Transactions funded by USDC are automatically converted to fiat at point of sale.
- BIN Sponsorship Services: Partners pay for BIN sponsorship services to become Mastercard affiliates and issue their own branded cards, including access to technology and regulatory licenses.
- Foreign Currency Conversion: 1.5% fee charged on foreign currency transactions when users make purchases in currencies other than USD.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Card Application Fee - Free |
| Transaction based/ take rate | Pay-as-you-go | Foreign Currency Transaction Fee - 1.5% |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels4 records
Immersive product offering
Product offeringCore offering
Immersve operates a multi-chain Web3 payment protocol and Mastercard-issued crypto card platform delivered via APIs and smart contracts. Partners — including exchanges, DeFi protocols, and Web3 wallets — integrate Immersve to offer physical, virtual, and xPays Mastercard cards funded by USDC and other supported digital assets, with real-time stablecoin-to-fiat conversion at point of sale. The platform also provides BIN sponsorship so partners can become Mastercard affiliates and launch their own branded card programs.
Product overview
Immersve is a Web3 bridging payment protocol and issuing-as-a-service platform that enables centralized and decentralized payment experiences. The core Immersve Issuing Platform supports multiple blockchain networks (Ethereum, Polygon, Arbitrum, Base, BNB Smart Chain, Algorand, Sei, Xahau) and stablecoins (USDC, USDT) through APIs and smart contracts. Key modules include Web3 Wallet Integration (for non-custodial spending), DeFi Protocol Integration (for trustless DeFi offramp), Exchange Card Program (for exchange offramp solutions), and BIN Sponsorship (for businesses to become Mastercard affiliates and issue branded physical, virtual, or xPays cards). All cards work through the Mastercard network at over 70 million merchant locations globally.
Differentiator
Problem solved
Functional benefit
Products and services
- Immersve Issuing Platform Core API-first platform that enables businesses to issue Mastercard physical, virtual, and xPays cards funded by USDC and other supported digital assets, with real-time stablecoin-to-fiat conversion at point of sale across 70M+ merchants. Supports custodial and non-custodial flows across EVM and non-EVM chains.
- BIN Sponsorship Program Issuing-as-a-service program that lets partner businesses become Mastercard affiliates through Immersve's sponsorship, gaining access to card-issuing technology and regulatory licenses to launch their own branded physical, virtual, and xPays Mastercard card programs.
Quantifiable outcome
- Approximately 1.7% savings per transaction compared to traditional cards
- +1 more outcomes
Companies that use Immersive
Customer profileNamed customers2 records
Segments5 records
Ideal customer profiles4 records
Immersive technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature5 records
Immersive partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core, flagship and minor.
- Bitget WalletcoreBitget Wallet launched crypto payment card across Africa powered by Immersve infrastructure and Mastercard payments technology. Card issued digitally as USD-denominated payment instrument with transactions funded by USDC and auto-converted to fiat at point of sale.
- KuCoincoreKuCoin launched KuCard in Australia on Mastercard's global network through partnership with Immersve as principal member. Supports USDC and 37 trading pairs for real-time conversion to fiat at point of sale.
- MastercardflagshipImmersve is a principal member of the Mastercard network, enabling card issuing capabilities and access to Mastercard's global payment infrastructure and merchant network.
- WillkieminorLegal firm providing legal services in jurisdictions where Immersve operates.
- MinterEllison Rudd WattsminorLegal firm providing legal services in New Zealand.
- DentonsminorGlobal law firm providing legal services.
- Crypto LegalminorLegal firm specializing in cryptocurrency regulations.
- CirclecoreCircle governs USDC stablecoin which is the primary digital asset used for Immersve card funding. Immersve's platform is designed to support USDC and other stablecoins.
Scale indicators4 records
Recent moves2 records
Expansion highlights6 records
Immersive competitors and assessment
Company assessmentEmerging players
- Gnosis Pay: Gnosis Pay is a self-custodial Web3 debit card that lets users spend stablecoins directly from a Gnosis Safe; it overlaps with Immersve's non-custodial card program targeting DeFi and self-custodial wallet users.
- Bridge (Stripe): Bridge is a stablecoin orchestration and issuing API acquired by Stripe; it competes with Immersve on USDC-based payment infrastructure but does not directly issue Mastercard cards to end users.
Others
- Circle: Circle is the issuer of USDC and operates Circle APIs for stablecoin payments; it is an infrastructure dependency and ecosystem partner for Immersve rather than a direct card-issuing competitor.
Direct peers
- Wirex: Wirex is a crypto payments platform issuing Mastercard debit cards with multi-chain support and a BIN sponsorship-style partner program; it competes head-to-head with Immersve in Web3 wallet and exchange offramp card issuance.
- Alchemy Pay: Alchemy Pay is a crypto payment gateway with a Mastercard/Visa crypto card and merchant acceptance network across emerging markets; it is one of the closest direct competitors to Immersve's multi-chain card issuing and payments rails.
Broad incumbents
- Bybit Card: Bybit offers a Mastercard debit card for crypto spending across multiple regions; comparable as an exchange-issued crypto card even though Bybit operates its program directly rather than through a BIN sponsor like Immersve.
- Crypto.com: Crypto.com operates a vertically integrated exchange plus Visa/Mastercard crypto debit card program; it is a broad incumbent with overlapping card issuance but is exchange-controlled rather than an issuing-as-a-service platform like Immersve.
- PayPal: PayPal has launched its own stablecoin (PYUSD) and integrated crypto/stablecoin balance spending at checkout; it overlaps with Immersve's value proposition of spending digital assets at merchant points but is a much broader incumbent.
- Coinbase Card: Coinbase offers a Visa debit card spending crypto balances directly from exchange accounts; it competes in the crypto-to-fiat offramp card category but is captive to Coinbase's own user base rather than a multi-tenant B2B platform.
- Marqeta: Marqeta is a leading card-issuing-as-a-service platform powering modern debit and prepaid programs; it is comparable to Immersve's BIN sponsorship model but is not crypto-native and lacks Web3 smart-contract funding rails.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Immersive social profiles
Digital presenceImmersive compliance and trust
Trust signalCompliance4 records
Immersive financial estimates
Financial estimateRevenue estimate
Valuation estimate
Immersive leadership team
Management profileNumber of profiles
Profiles11 records
Immersive funding detail
Funding detailFunding overview
Funding rounds4 records
Investors9 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Immersive M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Immersive
What does Immersive do?
Immersve operates a multi-chain Web3 payment protocol and Mastercard-issued crypto card platform delivered via APIs and smart contracts. Partners — including exchanges, DeFi protocols, and Web3 wallets — integrate Immersve to offer physical, virtual, and xPays Mastercard cards funded by USDC and other supported digital assets, with real-time stablecoin-to-fiat conversion at point of sale. The platform also provides BIN sponsorship so partners can become Mastercard affiliates and launch their own branded card programs.
Is Immersive a public or private company?
Immersive is a private company. It is classified as venture growth investor backed and is currently operating.
When was Immersive founded?
Immersive was founded in 2022. It employs 51 to 100 people.
Where is Immersive based?
Immersive is headquartered in Auckland, New Zealand, in the Oceania region.
How does Immersive make money?
Three revenue lines are on record. Crypto Card Transactions are the primary driver. The others are BIN Sponsorship Services and foreign Currency Conversion.
Who are Immersive's main competitors?
Emerging players on record are Gnosis Pay and Bridge (Stripe). Circle is listed as an others. Direct peers are Wirex and Alchemy Pay. Broad incumbents are Bybit Card, Crypto.com, PayPal, Coinbase Card and Marqeta.
Does Immersive have an API?
Yes. Immersve offers a REST API with webhook support for integrating Web3 payment capabilities. The API supports authentication via Algorand Login, Sign-In with Ethereum (SIWE), and XRPL Login. Developers can integrate for card issuing (virtual and physical cards), funding source management, payment processing, KYC verification, and card lifecycle management. Multiple funding protocols are supported including Universal EVM, Algorand, Custodial, and Simulator protocols. The API supports USDC on multiple EVM chains (Ethereum, Arbitrum, Base, BNB Smart Chain, Polygon, Sei) and Algorand. A public sandbox environment and Postman collection are available for testing. Developer documentation is at docs.immersve.com/api-reference.
What industry is Immersive in?
Immersive's product category is Web3 Payment Infrastructure. Its primary akta.pro industry code is FSADAIAC, Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid), with a secondary code of BPAMAFAL, Crypto Payments & Stablecoin Settlement Platforms. Its NAICS code is 522210 and its SIC code is 6200.