CipherTrace develops tools which help businesses identify, detect and root out illicit blockchain transactions, bringing more trust and transparency to digital assets.
“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.”
“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.”– Ajay Bhalla, president, Cyber & Intelligence at Mastercard
This comes after Mastercard announced in July that it would enhance its card programme for cryptocurrency wallets and exchanges.
Mastercard’s acquisition of CipherTrace signals a bullish sentiment for cryptocurrency adoption among large corporations, and more news on corporate crypto adoption is expected to be announced in the months to come.
Featured Image Credit: FT