Mastercard acquires blockchain intelligence firm CiherTrace

TL;DR Breakdown Mastercard acquires CipherTrace.Payment giant to integrate CipherTrace analyticts in its platform.Crypto growth necessitated the acquisition, Ajay Bhalla reveals. Payment processing giant Mastercard has announced plans to acquire CipherTrace a crypto and blockchain intelligence company. The move is an indication that MasterCard’s focus on crypto and digital currencies has deepened. Per a press release on Thursday, the payment giant reached the agreement to acquire the blockchain analytics firm so it can integrate the platform into its own cyber security solutions for digital assets. Mastercard said in the press release that it would combine its cyber capabilities with CipherTrace technology to differentiate its card and real-time payments architecture. The payment giant said the deal would enable clients and partners to adopt digital assets while maintaining compliance with financial regulatory provisions. Reportedly, the deal will also help the payment giant provide transparency to their clients regarding payment and investment across the cryptocurrency industry. Why Mastercard had to acquire CipherTrace Mastercard’s cyber and intelligence chief Ajay Bhalla stated that the growth of the crypto market had necessitated the need for trusted and safe operations. He noted that Ciphertrace would build on the payment giant existing capabilities to ensure the ecosystem’s security and protect the blooming industry fro...