New Mastercard Tool Will Help Banks Block Problematic Crypto Exchange Purchases
Mastercard
has launched software that allows banks to identify and potentially block customer purchases from cryptocurrency exchanges that have been linked to fraud—the payments giant’s latest push into the crypto space.
“Crypto Secure” allows card issuers to assess the regulatory risk of dealing with crypto exchanges and other digital asset platforms, as well as decide which purchases to approve,
Mastercard
(ticker: MA) said. The solution, which taps blockchain data, allows banks to see where cardholders are buying crypto and assess their overall exposure to the digital asset space, which is rife with fraud and under continuing scrutiny from regulators.
