Miami-based healthcare recovery company MSP Recovery LLC reportedly disclosed details regarding a newly forged alliance with Web3 solution Tokenology, to release a fraud-prevention blockchain platform. 

Specifically,, the new platform – expected to be operating on the foundation of the Polygon network – reportedly has a primary goal of significantly bringing down incidents of fraud within the U.S healthcare system.

The new platform – dubbed “Lifechain” – reportedly aims to take advantge of the verification and transparency features blockchain has to offer to streamline the accessibility of healthcare charges, claims and medical records for patients and industry professionals.

MSP Recovery’s consumer application LifeWallet – introduced launched in the first month of 2022 and has since recorded more than 1 million registrations per recent insights – will reportedly host the technology together with the tokenized solution LifeCoin.

The press release reportedly offered a clearer context regarding the size of the mission throughout the healthcare sector, notably, working in the field of reimbursing secondary medical insurance payments.

“The massive number of daily medical claims being tokenized is expected to surpass 50 million/day by 2024, requiring the kind of scale, security and sustainability that only Polygon can deliver.”

MSP Recovery reportedly turned into a firm available for public trading in the middle of last year, with the finalization of the Lionheart Acquisition Corp II purchase, as well as functioning on the Nasdaq under the ticker symbol MSPR.

The co-founder of Polygon (MATIC), Sandeep Nailwa, reportedly revealed his personal assessment regarding this freshly formed collaboration, claiming that the initiative is “truly impactful” and “a testament to the evolution of enterprising new solutions that developers like Tokenology are building using Polygon technology.”