The crypto space needs security to earn the trust of its users and gain wider adoption. Therefore, cybersecurity is an aspect that “crypto-offering” companies prioritize.
MasterCard, an American financial services company, announced that it has acquired CipherTrace – a crypto intelligence solutions firm. This adds to a number of partnerships that MasterCard has closed in the crypto industry this year.
With this acquisition, MasterCard is leveraging the two services of CipherTrace; data analytics and cybersecurity. MasterCard’s partnership will help its customers understand their risks and manage their digital assets better.
While the parties didn’t reveal the terms of the acquisition, they assured that the deal should be closed hopefully before this year ends.
When interviewed about this integration, the President of MasterCard’s Intelligence unit commented thus: “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.”
“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,” said the CEO of CipherTrace.