Pera Card Launches on Algorand on 15th May

May 15, 2025 | Lisbon — Pera Wallet has launched the Pera Card, a non-custodial debit card powered by Mastercard and built on the Algorand blockchain. The card allows users to spend USDCa (Algorand-native USDC) in real time, with transactions settling directly on-chain.

The launch comes through a partnership with Immersve, a licensed payment service provider. The card is now available in select regions including the United Kingdom, Germany, Spain, Italy, New Zealand, and Australia, with more jurisdictions expected to follow.

Real-Time Crypto-to-Fiat Payments

With the Pera Card, users can spend USDCa anywhere Mastercard is accepted. When a purchase is made, funds are withdrawn directly from the user’s wallet and converted into fiat at the point of sale.

Unlike custodial systems, the Pera Card does not hold user funds. Each card is tied to a unique on-chain wallet address, giving users full control over their balances at all times. Funds can be withdrawn back to the main Pera Wallet without delays or third-party approval.

Instant Finality, Full Transparency

Thanks to Algorand’s instant finality and low fees, all Pera Card transactions are visible and verifiable on-chain. This level of transparency is rarely seen in other crypto card products, which often rely on off-chain tracking due to blockchain limitations or high costs.

Payments, top-ups, and withdrawals using the Pera Card occur within seconds, with on-chain confirmations ensuring accuracy and trust.

Built for Scale and Utility

The launch highlights Algorand’s potential as a modern payment rail. As a non-EVM chain, Algorand provides near-instant transaction finality, minimal fees, and the technical capacity to support real-world financial tools at scale.

Jerome Faury, CEO of Immersve, noted, “We chose Algorand because of its speed, reliability, and the ability to settle transactions on-chain, in real time.” Immersve’s protocol is now fully integrated into Algorand, enabling decentralized payments at over 150 million merchants worldwide.

Community Reaction

There were a lot of genuine and interrogative comments on X around Pera Card and people genuinely seemed interested in the launch of the card and more so about the availability of the card in their region. People especially in the US were quite optimistic about seeing the card launch in their country.