Mastercard has partnered with Mercado Libre to strengthen the security and transparency of its recently launched crypto program in Brazil.
Mastercard's CipherTrace technology will allow Mercado Libre to monitor, identify and understand risks, and help the retailer manage its regulatory and compliance obligations. As part of its mission to democratize financial services in Latin America, last December Mercado Libre announced that millions of Mercado Libre and Mercado Pago customers in Brazil would be able to buy, hold and sell cryptocurrencies. “The potential for cryptocurrencies to change our everyday experiences is massive,” said Ajay Bhalla, president, Cyber & Intelligence at Mastercard. “But every interaction and experience must be protected. Through advanced crypto intelligence, Mastercard’s CipherTrace technology is strengthening the security and transparency of the crypto ecosystem and bringing trust to these new payment flows.”