With insights reports from CNBC on November 20, 2024, Financial services provider Mastercard has revealed a new partnership with Feedzai, an artificial intelligence (AI) firm, stated Cointelegraph.
Sources revealed that Mastercard says this integration plans to boost its ability to detect and prevent fraud routed through cryptocurrency exchanges, Cointelegraph added.
“Numerous banks that believe they are preventing illegitimate cryptocurrency transactions are, in fact, only blocking transactions involving the widely recognized and regulated entities within the crypto space and omitting the rest, ” Nuno Sebastio, CEO, co-founder, Feedzai, explained.
Furthermore, Mastercard was reached for further comment on the development, Cointelegraph concluded.
(With insights from Cointelegraph)
