{"id":336965,"date":"2021-09-09T17:29:40","date_gmt":"2021-09-09T14:29:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mastercard-acquires-major-crypto-forensics-outfit-ciphertrace\/"},"modified":"2021-09-09T17:29:40","modified_gmt":"2021-09-09T14:29:40","slug":"mastercard-acquires-major-crypto-forensics-outfit-ciphertrace","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mastercard-acquires-major-crypto-forensics-outfit-ciphertrace\/","title":{"rendered":"# Mastercard acquires major crypto forensics outfit CipherTrace"},"content":{"rendered":"

“# Mastercard acquires major crypto forensics outfit CipherTrace <\/strong>”
\n<\/p>\n

Mastercard\u2019s focus on crypto and digital currencies app<\/a>ears to have taken a greater dimension given the company\u2019s recent move.<\/p>\n

According to a release<\/a> on Thursday, the global payments giant has reached an agreement to acquire CipherTrace, a blockchain intelligence firm with crypto forensics capabilities for over 900 cryptocurrencies.<\/p>\n

As part of the acquisition, Mastercard says it plans to integrate CipherTrace\u2019s operations into its own cyber security solutions for digital assets.<\/p>\n

According to the announcement, Mastercard will combine its cyber capabilities with CipherTrace technology<\/a> 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.<\/p>\n

Commenting on the acquisition, Mastercard\u2019s cyber and intelligence chief Ajay Bhalla remarked that the growth of the crypto market has necessitated the need for trusted and safe operations.<\/p>\n

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.<\/p>\n

Back in July, the company\u2019s CEO stated that Mastercard needed to establish a significant presence in the crypto space. At the time, the payments giant revealed plans to become the de-facto testing partner for stablecoin and central bank digital currency projects.<\/p>\n

In May, the company published a survey stating that 40% of people intend to adopt crypto for payments in 2022.<\/p>\n

Related: <\/em><\/strong>CipherTrace develops Monero tracing tool to aid US DHS investigations<\/em><\/strong><\/p>\n

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.<\/p>\n

As previously reported by Cointelegraph, Crypto.com announced plans to integrate CipherTrace\u2019s \u201cTravel<\/a>ler\u201d tool into its compliance toolkit as a way of ensuring compliance with the Financial Action Task Force\u2019s \u201cTravel Rule.\u201d<\/p>\n