LONDON (ShareCast) - (Sharecast News) - Mastercard has agreed to buy cryptocurrency intelligence company CipherTrace for an undisclosed sum.
The company said on Thursday that the acquisition will extend its capabilities "deep into the field of digital assets".

CipherTrace's 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, Mastercard said.

Mastercard's president of Cyber Intelligence, Ajay Bhalla, said: "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."

Mastercard said the deal enables it to combine the technology, AI and cyber capabilities of both companies to differentiate its card and real-time payments infrastructure, allowing customers and stakeholders to build upon and benefit from the solutions to protect their consumers and comply with regulations, as they build their own virtual asset offerings.

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