International payments giant Mastercard has teamed up with blockchain provider Alchemy Pay to combat fraud and malicious activity. 🚀

Alchemy Pay, a gateway for fiat-to-crypto payments, is partnering with Mastercard to improve the user verification process and prevent fraud.

The collaboration will integrate Mastercard's advanced account opening solution using machine learning to help identify and authenticate "real users", reducing the risk of fraud.

Founded in 2017, Alchemy Pay has received Authorized Payment Institution licenses in various countries including the US, Canada, Indonesia and Lithuania. The company recently received a license in the UK, confirming its expertise in the crypto-payments sector.