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MasterCard takes acquisition over crypto firm CipherTrace

MasterCard has recently taken its acquisition over the crypto compliance firm CipherTrace which will help it to expand its market presence.

crypto firm
Photo By "forkast"

MasterCard, the credit and debit card giant, was already having its interest in the world of crypto. The recent acquisition of Mastercard makes its aims clear. Mastercard has recently acquired a leading crypto firm CipherTrace. This crypto compliance solution’s acquisition will help Mastercard to expand its presence in the industry of cryptocurrency.

This deal will see both the companies working together. It Will help them to tighten the strategies for their product offering. It will help the business insider to identify and understand the risks of involving in the industry of crypto. At the same time, it will deliver better security, transparency, and trust over digital assets.

Mastercard now will leverage its existing technologies and its AI solutions. It will further help them to develop their better network infrastructure. At the same time, it will help them to give better assistance to their consumers. They can manage their digital asset regulations along with compliance obligations. This acquisition will close by the end of this year.

Dave Jevans, the CEO of crypto firm CipherTrace, spoke about the shared vision of the company that is having an interest in better security and trust in the industry.

“We help companies – whether they are banks or cryptocurrency exchanges, government regulators or law enforcement to keep the crypto economy safe,” he said.

“Our two companies share this vision to provide security and trust throughout the ecosystem. We are thrilled to join the Mastercard family to scale CipherTrace’s reach across the globe.”

This acquisition will contribute to the expansion of Mastercard to the cryptocurrency industry. It has recently introduced a spate of crypto products to the market. Mastercard recently came up with the announcement of partnering with Coinbase and Alchemy Pay for card payments.

This partnership is to welcome the upcoming launch of the consumer education program Start Path. Also, it is aiming to focus on the launch of USDC Stablecoin payments integration.

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