A council formed by traditional finance conglomerates American Express (NYSE:AXP), Discover, Visa (NYSE:V) and Mastercard (NYSE:MA) welcomes a decentralized finance (DeFi) banking firm to a forum of participating organizations that help toimprove payment data security worldwide.
Scallop, a regulated DeFi banking app recently announced its entry to the PCI Security Standards Council (PCI SSC), a global community with a goal to improve payment data security worldwide. According to the DeFi firm, it will be working with the PCI SSC by assisting in the ongoing development and adoption of the PCI Security Standards.