Mastercard has launched a security service designed to screen out fraud and sanctions-violation risks linked to stablecoin payments, The Block reported. Unveiled at the Money20/20 USA event, Stablecoin Security helps financial institutions assess risk before stablecoins move on a blockchain. The service tracks the source of funds, flags links to financial crime and assigns risk scores based on transaction context, with data provided via an API.

Mastercard has launched a corporate platform called Global Money Platform that links stablecoin balances to existing banking services and card payments. The service is designed to let companies offer stablecoin-based payments and transfers without building separate infrastructure. Mastercard said firms can hold and convert fiat currency and stablecoins, issue stablecoin-linked cards and pay out to recipients’ local bank accounts from stablecoin balances. The launch is the first integration with stablecoin infrastructure firm BVNK, which Mastercard acquired in August.