Mastercard buys crypto forensics outfit CipherTrace
By MYBRANDBOOK
The global payments giant, Mastercard has inked an agreement to take over CipherTrace, a blockchain intelligence firm with crypto forensics capabilities for over 900 cryptocurrencies.
With this move of Mastercard it is prominent that the company is focused on crypto and digital currencies.
Mastercard has plans to integrate CipherTrace’s operations into its own cyber security solutions for digital assets.
As announced by the company, Mastercard will combine its cyber capabilities with CipherTrace technology to differentiate its card and real-time payments architecture. The deal will allow Mastercard clients and partners to adopt digital assets while maintaining compliance with financial regulatory provisions.
Mastercard’s cyber and intelligence Chief Ajay Bhalla said that the crypto market growth has accelerated the need for trusted and safe operations.
Indeed, Mastercard has been visible in the crypto and blockchain investment scene, including partnerships with notable crypto primitives in the crypto credit and debit card arena, such as Gemini and BitPay.
The acquisition of a major player in the crypto forensics arena like CipherTrace might be geared towards greater interaction with central banks and stablecoin issuers on digital currency matters.
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