Catenaa, Friday, December 06, 2024- MatterFi, a decentralized finance infrastructure provider, unveiled its new platform on Tuesday, aiming to secure digital transactions against rising cybersecurity risks.
The system targets vulnerabilities such as phishing, hacking, and SIM swaps while simplifying financial operations for users.
The platform features a “Send-to-Name” solution, which replaces traditional wallet addresses with cryptographic proofs, reducing the risk of fraudulent activities like money laundering. MatterFi also eliminates the need for passwords or logins, maintaining privacy between transacting parties while adhering to AML/KYC compliance.
It highlighted the platform’s mission to enhance adoption of decentralized financial technologies by addressing security concerns and transaction complexity.
Inspired by traditional financial apps like PayPal, the platform emphasizes accessibility and user-friendly design.
MatterFi supports integration with software wallets, hardware wallets, and AI agents, offering a chain-agnostic infrastructure tailored to modern financial needs.
The launch follows a six-month beta testing phase and comes in response to a reported 150% increase in phishing attacks in 2024, according to a BBB Scam Tracker report. Nearly 80% of scam targets suffered financial losses.
With rising cyber threats exacerbated by the integration of AI in finance, MatterFi’s platform aims to provide organizations with secure, compliant solutions to adopt decentralized technologies seamlessly.
