Crypto Security: EQIFi and MatterFi Collaborate to Enhance On-Chain Safety
Neobank EQIFi has joined forces with MatterFi, a company based in Wyoming, to tackle concerns surrounding crypto security. The partnership aims to merge traditional web2 security methods with advanced web3 techniques in order to combat the rising number of security breaches in the digital asset space.
An ImmuneFi report has revealed that hackers managed to steal more than $200 million worth of digital assets in the first quarter of 2024. This alarming statistic underscores the outdated nature of traditional security measures such as alphanumeric passwords and two-factor authentication.
In an effort to bolster crypto security and tackle issues related to theft, fraud, and money laundering, EQIFi has turned to MatterFi’s patented technology. The collaboration will introduce private « send-to-name » blockchain addresses through a peer-to-peer platform, offering users a secure way to send various crypto tokens like Ethereum (ETH) ERC-20 assets to recipients.
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In conclusion, the collaboration between EQIFi and MatterFi signifies a step forward in the realm of crypto security, aiming to provide enhanced KYC/AML services for both retail and institutional clients. The hope is to bring about positive changes and a brighter future for all those involved in the crypto space.
Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. It is recommended to conduct thorough research and consult with a professional before making any investment decisions.
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