CipherTrace, a cryptocurrency transaction tracking company, was acquired by credit card provider Mastercard. The crypto course will therefore be continued.
Credit card provider Mastercard has announced the acquisition of cryptocurrency tracking company CipherTrace. According to a press release by the company, the aim of the acquisition is to provide “additional transparency and support” for the emerging ecosystem of digital assets. CipherTrace specializes in anti-money laundering, forensic and blockchain threat intelligence solutions. It also has an analytics platform that enables tracking and de-anonymization of crypto transactions.
We help companies – whether banks or cryptocurrency exchanges, government regulators or law enforcement agencies – keep the crypto economy safe. Our two companies share the vision of creating security and trust across the ecosystem
, CipherTrace CEO Dave Jevans explains the company’s philosophy.
Mastercard is already testing CBDC and stablecoins
The deal allows Mastercard to combine the technology, AI and cyber capabilities of both companies. Customers should also benefit from the solutions, as they offer greater protection against insecure transactions. Ultimately, the cooperation will strengthen trust in virtual assets.
So the takeover seems to fit well with the Mastercards crypto-friendly strategy. It follows a series of industry investments made by the credit card company. These include, for example, partnerships with Uphold, Gemini and BitPay for the development of crypto cards. The creation of new platforms for testing and supporting central bank digital currencies (CBDC) and the support of selected stablecoins are also part of this concept.