Mastercard (MA) has chosen to sharpen up its crypto capabilities. The corporation announced the acquisition of CipherTrace, a crypto intelligence firm providing insights and data analytics into more than 900 cryptocurrencies. CipherTrace also provides fraud protection, anti-money laundering, and financial investigations solutions for cryptocurrencies.
Mastercard’s decision highlights the importance of being able to handle cryptocurrencies going forward. When cybercrimes are on the rise and crypto markets are getting hacked, ya’ll will be thankful for this deal!
why it matters
Mastercard's acquisition of Ciphertrace is just the latest move made by the corporation in the digital assets space. The company has also recently entered into partnerships with BitPay, Gemini, and Uphold to create crypto cards and explore new programs to support blockchain technology.