Mastercard Takes New Milestone for Crypto After Acquisition of Crypto Analysis Firm CipherTrace

According to a statement from MasterCard, it acquired crypto research firm CipherTrace to provide "additional information and support" for its new legacy ecosystem.

CipherTrace specializes in financial protection, forensic security and blockchain threat security solutions, monitoring platforms that can track and anonymize the cryptocurrency market. MasterCard and CipherTrace's “big tools” will help businesses “identify and understand risk” and “manage their digital assets for oversight and compliance”.

Ajay Bhalla, President of Mastercard Networks and Intelligence, said, “A lot of our business ventures are engaging and successful. Our goal is to use the additional capabilities of MasterCard and CipherTrace to achieve this goal. "

CipherTrace CEO Dave Jevans told Decrypt Daily in late 2020 that the company's goal is to "help people comply with the law" by finding common ground between cryptocurrency and regulators.

Mastercard is seeing interest in the cryptocurrency space and announced earlier this year that it plans to "start promoting certain cryptocurrencies directly on the Mastercard network" from 2021. The company said that 'she hoped to realize her vision of getting consumers to use cryptocurrency instead of investing. in them.