Mastercard Acquires CipherTrace to Enhance Crypto Capabilities
Mastercard to acquire CipherTrace to deliver even more security, transparency, and trust to digital assets.
The integrated offering will build on CipherTrace’s suite of digital assets and Mastercard’s cyber security solutions to provide businesses with greater transparency to help identify and understand their risks and to help manage their digital asset regulatory and compliance obligations.
“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,” said Ajay Bhalla, president, Cyber & Intelligence at Mastercard. “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.”
Bringing Trust & Transparency to Digital Assets
CipherTrace’s innovative platform helps customers enhance their security and fraud monitoring activities for crypto-related programs. They provide solutions for some of the largest banks, exchanges, and other financial institutions in the world due to their industry-leading data analytics and algorithms to help customers convert on their opportunities across 7,000+ cryptocurrency entities.
“We help companies – whether they are banks or cryptocurrency exchanges, government regulators or law enforcement to keep the crypto economy safe,” said Dave Jevans, CEO, CipherTrace. “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.”
The deal enables Mastercard to combine the technology, AI, and cyber capabilities of both companies to differentiate its card and real-time payments infrastructure, allowing customers and stakeholders globally to build upon and benefit from the solutions to protect their consumers and comply with regulations, as they build their own virtual asset offerings.
CipherTrace will also help drive continued innovation with a diverse range of partners, like fintech, crypto-wallet providers, governments, etc., while also allowing the company to deliver on the principles it has established for all blockchain-related programs.
About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible.
About CipherTrace
CipherTrace, a leading cryptocurrency intelligence company, bridges virtual currencies and financial services together with fraud protection, anti-money laundering, and financial investigation solutions. CipherTrace derives superior cryptocurrency intelligence from analyzing massive amounts of validated blockchain transaction attribution.
