Mastercard to Buy CipherTrace to Strengthen Crypto Capabilities
September 09 2021 - 9:59AM
Dow Jones News
By Robb M. Stewart
Mastercard Inc. said Thursday it has agreed to buy a
cryptocurrency-intelligence company in an effort to accelerate and
expand its crypto-related strategy.
Payments-company Mastercard said it would extend its
capabilities in the field of digital assets with a deal to buy
CipherTrace for an undisclosed amount.
"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," said Ajay
Bhalla, president of cyber and intelligence at Mastercard.
CipherTrace's platform helps customers bolster security and
fraud monitoring activities for crypto-related programs, providing
solutions for banks, exchanges and other financial institutions.
Mastercard said the company has insight into more than 900
cryptocurrencies.
The transaction is expected to close before the end of the year,
pending certain conditions, Mastercard said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
September 09, 2021 09:44 ET (13:44 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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