MatterFi on Tuesday announced the launch of its decentralized financial platform, designed to secure digital transactions against phishing and other cyber threats while simplifying usability for enterprises and consumers.

The launch follows a six-month beta phase aimed at testing the platform's capacity to provide secure and efficient financial operations.

The platform's Send-to-Name solution enables users to complete transactions without relying on traditional wallet addresses, replacing them with cryptographic proofs to mitigate risks such as phishing, hacking, SIM swaps, and money laundering.

MatterFi's system eliminates the need for passwords or logins while maintaining privacy between transacting parties.

MatterFi supports integration with software wallets, hardware wallets and AI agents.

The infrastructure is chain-agnostic and adheres to AML/KYC requirements, with decentralized identities available for transactions.

The platform also aims to improve accessibility, drawing on design principles found in traditional financial applications like PayPal and Revolut.

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"Adoption of decentralized financial technologies has been slowed by concerns about security risks and complexity," said Michael "Mehow" Pospieszalski, MatterFi's founder. "We aim to address these concerns while enabling secure and compliant transactions."

The launch comes amid a rise in cyber threats targeting financial systems.

A BBB Scam Tracker report indicates that phishing attacks increased by 150% in 2024, with 80% of scam targets losing funds.

MatterFi's system is designed to address these vulnerabilities, which have been exacerbated by the growing integration of AI into financial operations.

By offering a security-focused infrastructure, MatterFi seeks to enable organizations to integrate decentralized technologies into their services while meeting regulatory requirements.

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