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Join Our Telegram channel to stay up to date on breaking news coverage Mastercard, a large corporate financial services firm, has launched a new Crypto Secure solution. Its primary objective is to support banking institutions in avoiding fraudulent cases involving digital products. Mastercard has established itself as a crypto-focused company in recent years, with several of its managers and directors vocal supporters of the sector. The payment systems behemoth increased its virtual currency attempts by introducing a function that might decrease fraud and dishonest instances in the industry. Ajay Bhalla, Mastercard’s Leader of intelligence and cyber business, told CNBC that the product is called Crypto Secure. It uses sophisticated AI techniques to identify criminal networks, making it especially useful for financial institutions . CipherTrace, a crypto startup , will be the architect for launching the platform as a companion in the venture. Regarding the move, Bhalla s...

Saudi Arabia’s Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) recently held a meeting to discuss ways of boosting financial services integration and cooperation.  The July 27 meeting aimed to strengthen the partnership between Saudi Arabia and Hong Kong and enhance their financial systems. The focus was also to agree on tokenization and payment infrastructure. Saudi Arabia and Hong Kong discussion SAMA and HKMA representatives discussed four key focus areas, mainly financial infrastructure development, open market operations, market connectivity, and sustainable development. They also explored supervisory technologies, such as artificial intelligence, machine learning, tokenization, and payment infrastructure.  SAMA and HKMA signed a Memorandum of Understanding (MoU) to collaborate on financial innovation to facilitate joint deliberations. The agreement was signed by SAMA’s governor, Mr. Ayman Alsayari, and HKMA’s chief executive, Eddie Y...