Mastercard Crypto Secure

Mastercard Launches Crypto Security Tool

04.10.2022 09:29 (Updated 04.10.2022 09:10)
avatar
by Aleksandar Đurić
1 min read

Mastercard has launched its new service – Crypto Secure. The service will assist banks with preventing fraud involving 2,400 crypto exchanges within Mastercard’s network.

Crypto Secure is developed by CipherTrace, a blockchain security company that Mastercard acquired last year. Their project is an offshoot of a similar service that handles fiat currency, which Mastercard was already offering to banks. In this case, AI determines the potential risk of a crypto merchant being fraudulent by analyzing blockchain and public transaction records.

With the increased numbers associated with crypto crime, banks could sure use this kind of service. According to Chainalaysis, wallet addresses linked to crypto fraud received $14 billion in 2021 – an all-time annual high.

Author

  • An experienced journalist working in the film and video-game industries for many years. An enthusiast busy with learning new things about the world of crypto every day. Majored in English Language and Literature. Has a shrine in his apartment dedicated to Hidetaka Miyazaki.

Subscribe to
Crypto Ping Pong Digest

Trash style news. You will definitely like

Trending news

Arrow previous
Arrow next
Yellow background Yellow background
Subscribe and be in touch
Click here