TechFlow news, according to CNBC, Mastercard is partnering with regulatory technology platform Feedzai to strengthen efforts in detecting and preventing fraud through cryptocurrency transactions.
Feedzai will be directly integrated into Mastercard's CipherTrace Armada platform, helping banks monitor fraud, money laundering, and suspicious activities originating from over 6,000 cryptocurrency exchanges. This collaboration will enable Feedzai to provide real-time alerts on suspicious crypto transactions, enhancing fraud detection. The move is part of Mastercard’s broader push into the crypto market, treating cryptocurrencies as mainstream financial assets.
The company will also gain access to Feedzai’s artificial intelligence technology to identify and block suspicious transactions. This step reflects growing interest among banks in incorporating crypto into their products and services, although commercially launching crypto offerings as core products remains challenging.
