Mastercard makes it easier, safer to buy crypto
Mastercard Crypto SecureTM to bring a new level of trust to crypto purchases across global network of 2,400 exchanges
Crypto Secure combines insights and technology from CipherTrace with proprietary information to help card issuers stay compliant with the complex regulatory landscape of the digital assets sector. The platform allows them to better assess the risk profile of crypto exchanges or other providers, collectively known as Virtual Asset Service Providers (VASPs), and decide which purchases of cryptocurrency to approve.
Rather than considering or employing a one-size-fits-all approach, which could potentially restrict legitimate activity, issuers can easily identify and turn away transactions with crypto merchants prone to fraud.
Crypto Secure provides each issuer with a colour-coded dashboard which shows where their cardholders are buying cryptocurrency. The new service will allow issuers to:
- accurately identify the crypto exchanges
- measure transaction approvals and declines
- understand, at a portfolio level, their exposure to crypto risk through a single score
- access a benchmark rating for comparison to a peer group of financial institutions
Crypto Secure is the latest step in Mastercard’s broader digital assets strategy, which helps bridge the gap between traditional finance and the world of crypto, and enables individuals to seamlessly spend funds from their crypto accounts in everyday transactions. Over the past few years,
This unique combination of services provides eligible financial institutions the opportunity to safely manage crypto asset investments for consumers.
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Mastercard Crypto and Blockchain
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Source: Mastercard Investor Relations