Mass Crypto Adoption: Mastercard Launches New Service

Mass Crypto Adoption: Mastercard Launches New Service

The mass adoption of digital assets is going great these days. Check out the latest reports suggesting that the big player boosts the mainstream adoption of crypto.

MasterCard boosts crypto adoption

It’s been revealed that the financial services giant Mastercard is launching a software tool aimed at assisting banks in identifying and preventing fraudulent transactions emanating from crypto exchanges.

According to a new CNBC report, the Crypto Secure software is using artificial intelligence to build a risk profile for crypto exchanges on the financial services giant’s payment network.

It’s been also revealed by the online publication the Daily Hodl that Mastercard’s cyber and intelligence president, Ajay Bhalla, tells CNBC that the financial services giant’s goal in launching the new product is to offer its clients trust when interacting with the crypto asset ecosystem.

“The whole digital asset market is now a pretty large, substantial market. The idea is that the kind of trust we provide for digital commerce transactions, we want to be able to provide the same kind of trust to digital asset transactions for consumers, banks and merchants.”

It’s also important to note the fact that the blockchain security firm CipherTrace is behind the Crypto Secure tool, according to the report.

MasterCard also made sure to buy CipherTrace last year at an undisclosed price. It’s worth noting the fact that, Bhalla said that the acquisition would help in delivering “more security, transparency and trust to the payments ecosystem.”

Bitcoin in the news

It’s been reported that the popular quantitative analyst PlanB says he is buying Bitcoin (BTC) again. He also highlights data trends suggesting the king crypto may be gearing up for a surge.

PlanB made sure to say on Twitter not too long ago that he is seizing the opportunity to purchase the leading crypto as he has done at other times after significant price declines.

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