Payments Giant Mastercard acquires blockchain intelligence company Ciphertrace-Finance Bitcoin News
Payments Giant Mastercard acquires blockchain intelligence company Ciphertrace-Finance Bitcoin News
Mastercard, the American multinational financial services group, announced that the company will continue to immerse yourself in the ecosystem of digital assets by taking over the blockchain intelligence company Ciphertrace. The announcement of the partnership states that the company will help strengthen the cyber security solutions of Ciphertrace and MasterCard.
Mastercard bought cipherrace for unnoted sums
On Thursday, the financial payment giant Mastercard (NYSE: MA) announced that the company took over the blockchain surveillance company Ciphertrace. The blockchain company is a local cyber security company in Menlo Park, California, which specializes in the persecution of "more than 900 cryptocurrencies". Ciphertrace was founded on May 31, 2016 by Stephen Ryan and has a number of patents over the years. In mid-May, ciphertrace reported on cryptocurrency crime, which moves towards decentralized finance (defi), and in the first August Week Ciphertrace claimed Monero ( xmr ) re-tracking functions.
In the takeover announcement, Ajay Bhalla, President of Cyber and Intelligence at MasterCard, discussed the advantages of digital assets, but the payment giant wants to ensure that the ecosystem is "trustworthy and safe". "Digital assets have the potential to rethink retail, from everyday actions such as paying and paying to the transformation of economies in order to make them more integrative and efficient," said Bhalla in an explanation on Thursday. Bhalla added:
With the rapid growth of the ecosystem for digital assets, it must be ensured that it is trustworthy and safe. Our goal is to build on the complementary skills of Mastercard and Ciphertrace to achieve this.
The introduction of Mastercard in crypto becomes deeper
Mastercard has been anchored in the crypto economy for some time and every few weeks the company's interest is greater. At the end of July Mastercard The company's card program was expanded for crypto trading platforms and wallets. A week later MasterCard an initiative to start strengthen. While Ciphertrace the improved xmr tracing capabilities in the same week the plans of the company for cryptos, stable coins and digital currencies of the central bank (CBDCS).
According to Ciphertrace, the company's software helps to find solutions in order to "improve their security and fraud surveillance activities for crypto-related programs". Dave Jevans, CEO of Ciphertrace, explained that Mastercard and Ciphertrace share a similar vision. "We help companies - be it banks or cryptocurrency exchanges, state supervisory authorities or law enforcement authorities to keep the crypto industry safe," said Jevans. He added:
Our two companies share this vision, security and trust in the entire ecosystem. We are very happy to join the Mastercard family to increase the reach of Ciphertrace worldwide.
The acquisition costs of ciphertrace were not announced in the announcement by Mastercard. Mastercard also explained that Ciphertrace is one of many investments because the company has received investments and partnerships with companies such as Uphold, Bitpay and Gemini.
What do you think of buying ciphertrace through MasterCard? Let us know your opinion on this topic in the comments below.
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