Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • About
    • Advertise
    • Contribute
    • Donate
    • Forum
    • Contact
    Login
    InfoStride NewsInfoStride News
    • Home
    • Business
    • Celebrity
    • Crime
    • Nigeria
    • Politics
    • Sports
    • Technology
    • More
      • COVID-19
      • Editor’s Picks
      • Health
      • Opinions
      • Press Releases
      • World
    Subscribe
    InfoStride NewsInfoStride News
    Home»Business Matters»Mastercard buys blockchain intelligence firm, CipherTrace

    Mastercard buys blockchain intelligence firm, CipherTrace

    Business Matters By Temitope N.Sep 11, 2021No Comments3 Mins Read
    Facebook Twitter WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

    Payment giant, Mastercard seems to have its eyes set on cryptocurrencies as the company just acquired CipherTrace, a blockchain intelligence firm with crypto forensics capabilities.

    MASTERCARD
    MASTERCARD

    According to a business wire publication, the global payments giant has reached an agreement to acquire CipherTrace, founded in 2015 as the world’s first blockchain forensics company with insight into more than 900 cryptocurrencies.

    As part of the acquisition, Mastercard says it plans to integrate CipherTrace’s operations into its own cyber security solutions for digital assets. According to the announcement, Mastercard will combine its cyber capabilities with CipherTrace technology to differentiate its card and real-time payments architecture. For Mastercard, the deal will allow clients and partners to adopt digital assets while maintaining compliance with financial regulatory provisions.

    CipherTrace’s innovative platform helps customers enhance their security and fraud monitoring activities for crypto-related programs. It provides solutions for some of the largest banks, exchanges, and other financial institutions in the world due to its industry-leading data analytics and algorithms to help customers convert on their opportunities across 7,000+ cryptocurrency entities.

    See also  RBI bars Mastercard from issuing new cards from July 22

    Mastercard’s cyber and intelligence chief, Ajay Bhalla stated that the growth of the crypto market has necessitated the need for trusted and safe operations. He stated, “Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient. With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe. Our aim is to build upon the complementary capabilities of Mastercard and CipherTrace to do just this.”

    Dave Jevans, CEO, CipherTrace, stated, “We help companies – whether they are banks or cryptocurrency exchanges, government regulators or law enforcement to keep the crypto economy safe. Our two companies share this vision to provide security and trust throughout the ecosystem. We are thrilled to join the Mastercard family to scale CipherTrace’s reach across the globe.”

    See also  Youtube Ditches Flash, and it Hardly Matters: Meet the New Boss, Same as the Old Boss

    This is not the only investment MasterCard has made in the cryptocurrency space as the company has been partnering with notable crypto primitives in the crypto credit and debit card arena, such as Gemini and BitPay.

    MasterCard is trading on the New York Stock Exchange (NYSE) with its share price currently at $351.41, as of the time of this writing. Year-to-Date (YtD), the share price is down marginally by 0.02%.

    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. Crypto.com announced plans to integrate CipherTrace’s “Traveller” tool into its compliance toolkit as a way of ensuring compliance with the Financial Action Task Force’s “Travel Rule.”

    Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate

    MasterCard
    Share. Facebook Twitter WhatsApp Pinterest Reddit Tumblr VKontakte Email LinkedIn

    Related Posts

    Five Ways To Analyze The Forex Market

    Dec 22, 2022

    Why FG is investigating Mikano, Jubali Brothers, JMG over generator importation

    Dec 15, 2022

    Food Inflation: Average price of tomato rises 30% in one year – NBS

    Oct 28, 2022

    Governors warn that CBN’s proposed loan recovery from FAAC revenue is “suicidal”

    Oct 22, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Get Social with Us
    • Facebook
    • Twitter 6.5K
    • Pinterest 93
    • Instagram
    • YouTube
    Latest Posts

    Banks Don’t Have New Naira, Money Changers Are Taking Advantage – Whitemoney

    Jan 31, 2023

    Robertson Is Right To Say Liverpool’s Struggles Keep Getting Worse – Richard Keys

    Jan 31, 2023

    Secure Yourself As A Nigerian, Security Agencies Won’t – Leo DaSilva

    Jan 31, 2023

    Naby Keita And Oxlade-Chamberlain Don’t Deserve New Contracts – Dietmar Hamann

    Jan 31, 2023

    Subscribe to Updates

    Get the latest breaking news straight into your inbox!

    Random News

    I Joined Nollywood To Focus On Building My Brand While Acting – Timini Egbuson

    Dec 6, 2021

    BBA Winner Dillish Celebrates 70,000 Twitter Followers

    Jan 18, 2014

    I Am Proud Of What The Super Eagles Has Achieved – Rauf Aregbesola

    Oct 9, 2017

    Kanye West Might Be A Father Of Another Baby

    Aug 11, 2015

    InfoStride News delivers the latest breaking news, Nigeria news, world news and top stories on business, celebrity, entertainment, politics, sports, technology and more. Experience the best of in-depth coverage, special reports, football highlights, political opinions, crime watch, celebrity gossips etc.

    GooglePlay Store Button

    Support InfoStride News' Credible Journalism

    Credible journalism involves a lot of efforts and money; and can guarantee a fair, accountable and transparent society, including democracy and government. We need your support to continue offering free access to our loyal readers and visitors like you.

    Click here to Donate

    Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • Our Terms
    © 2023 InfoStride News. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Continue with Facebook
    Continue with Google
    Continue with Twitter
    Lost password?