Mastercard buys CipherTrace to boost crypto security and compliance
Payments giant Mastercard Inc on Thursday said it has acquired crypto intelligence firm CipherTrace, for an undisclosed amount to protect its customers and comply with regulations as they start to build out their digital currency offerings
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Published - Sep 09, 2021, 08:42 PM ET
Last Updated - Jun 05, 2024, 01:57 AM EDT
By Arghyadeep Dutta, 3:00 pm ET:
Payments giant Mastercard Inc on Thursday said it has acquired crypto intelligence firm CipherTrace, for an undisclosed amount to protect its customers and comply with regulations as they start to build out their digital currency offerings.
The California-based CipherTrace develops tools that help businesses and law enforcement to scan blockchains and root out illicit transactions and will give Mastercard the ability to track over 900 cryptocurrencies.
Earlier this year, CipherTrace raised $27 million from a Series D funding round led by Daniel Loeb’s Third Point Ventures valuing the firm $100 million.
