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MatterFi has announced the launch of its enterprise-ready platform, providing the market with a “phishing-proof” fintech infrastructure.
The solution goes live after a six-month beta phase, MatterFi stated in a December 3 press release shared with crypto.news.
According to the announcement, the goal is to enable secure digital finance for both humans and artificial intelligence. Key to the infrastructure is an ai-powered agent for the “send-to-name” solution, meaning users don't need complex wallet addresses to transact.
Integration with software wallets, hardware wallets and ai agents and leveraging off-chain financial rails means users get multiple layers of security when transacting. MatterFi provides the platform that helps users protect themselves against attacks such as hacking, phishing, and SIM swaps, among other security risks.
With end-to-end cryptographic proofs that eliminate the need for user passwords and login details, humans and ai agents can securely transact with other parties. Its use is more like the access available with global financial apps such as Revolut and PayPal.
“Enterprise adoption of newer DeFi technologies is not what it should be due to the perceived risks and vulnerabilities surrounding these technologies. Not only that, the complexity of these technologies and the reliance on complicated addresses has stalled adoption,” said MatterFi founder Michael “Mehow” Pospieszalski.
Notably, MatterFi says that all transactions remain private, something critical in the cryptocurrency market which, according to data, saw a 150% increase in web3 phishing attacks in 2024. In October, the blockchain security platform Certik reported that phishing attacks and private key leaks had seen users around the world. The ecosystem will lose $668 million in the third quarter of 2024. Data sample 80% of those who suffer phishing attacks lose money.
In May 2024, MatterFi and neobank EQIFi announced a collaboration aimed at strengthening crypto security.
The platforms targeted MatterFi's technology to help address growing issues related to cryptocurrency theft, fraud, and money laundering. EQIFi and MatterFi revealed that the partnership would leverage the “send name” feature through a peer-to-peer platform to provide this benefit to users.
