Mastercard to protect cryptocurrency owners with the help of artificial intelligence

The Mastercard payment system has announced the launch of Crypto Secure, an artificial intelligence tool that will help protect cryptocurrency holders from hacker attacks.

As it became known, Crypto Secure will allow identifying and stopping suspicious transactions with crypto exchanges where customers have added their payment cards to their profiles. According to the CNBC website, Crypto Secure uses artificial intelligence algorithms, data from blockchains and other sources. The Crypto Secure platform displays a dashboard with risk ratings for each transaction. However, the final decision to approve or refuse a transfer is made by the user.

«Our idea is to provide users with the same security for cryptocurrency transactions as they have for fiat transfers,» said Ajay Bhalla, Mastercard’s president of cybersecurity. According to Bhalla, the number of cryptocurrency transactions carried out through the Mastercard payment system is «more than several thousand per minute.»

The payment giant has been working for a long time to expand its powers in the digital space, so in late August it became known that Mastercard has Binance-spivpraczyuye-z-mastercard-dlya-zapusku-platezhiv-u-kryptovalyuti/">started cooperation with the world’s largest cryptocurrency exchange Binance to launch cryptocurrency payments in 90 million stores.«We will be able to unlock the full potential of blockchain technology when we simplify access to it and make it as easy as possible to use,» Mastercard CEO Michael Meehan said on his LinkedIn page.