Mastercard (NYSE: MA) is launching a new software tool that will offer protection against crypto fraud, according to the latest crypto news about the global payments provider.
The new tool is dubbed Crypto Secure, and debuts today, 4 October, to bring to banks and other users a secure system by which they can identify and protect against fraudulent transactions and schemes on crypto exchanges within the Mastercard payment ecosystem.
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Crypto Secure powered by CipherTrace
Crypto Secure is powered by CipherTrace, the California-based blockchain security platform Mastercard acquired in 2021.
Leveraging similar technology that helps trace illicit crypto-related activity, Crypto Secure will tap into artificial intelligence algorithms to provide risk ratings to banks and other users. The system uses on-chain as well as off-chain transaction data to rate the risk an activity poses – from ‘...
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