With Mastercard’s Crypto Secure, BNB and Uniglo.io can integrate additional security into their vaults for the future

Payments giant Mastercard is moving into the cryptocurrency market with force after launching a new software designed to detect fraudulent transactions coming from crypto exchanges. This type of action means the acceptance of cryptocurrency in the general public, which will be driven by large institutions.

Crypto secure software

This new algorithmic product, known as Crypto Secure, is aimed at monitoring blockchain and other sources to “rank” transactions on a fraud probability scale. This will allow card providers to choose which exchanges they provide services to based on whether or not they believe their payment systems will be used for illegal activity.

This move into the world of crypto security comes after Mastercard acquired CipherTrace, a Californian startup that set out to monitor the blockchain for suspicious activity.

CipherTrace’s main competitors are Chainalysis in New York and Elliptic in London, and the rise of these companies shows that financial companies see the need to monitor cryptocurrency for fraud and have already begun the process of analyzing the networks.

BNB and Uniglo.io Vault Security

With major companies like Mastercard entering the scene, this will be a boon for the likes of Binance and Uniglo.

Binance, which has a crypto card already available on the market, will gain significant protection from impending regulations by having these additional security measures in place. Reassuring regulators that efforts are being made to combat fraud on the exchange will boost Binance’s image in the eyes of lawmakers and help remove some of the scrutiny the exchange has been under. This bodes well for the BNB vault, which will continue to boost the entire ecosystem under which BNB works.

For Uniglo, this vault-backed token will act as a store of value. Probably with such a purpose, GLO will be used in the future as a payment method, allowing worldwide exposure to this protocol. This news of Mastercard’s integration into crypto payments will facilitate the perfect infrastructure the Uniglo team needs to add this to the project’s list of use cases, along with the Ultra Burn mechanism and multi-asset vaults. The Vault will include real-world assets in tokenized form, as a stable hedge against any downside volatility, making this a great token to use as wealth storage.

Final Take

We see this move to prevent fraud as a step in the right direction, and those projects with real use cases and action plans are likely to benefit greatly from this.

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