Payment System, Mastercard has acquired CipherTrace, a blockchain intelligence firm with insight into over 900 cryptocurrencies. Mastercard has revealed that it plans to incorporate the company’s forensics capabilities into its operations.
CipherTrace touts itself as the world’s first Blockchain Forensics Team. There are indications it could burgeon into a crypto regulator based on its capabilities
CipherTrace’s platform helps users enhance their security for cyber-related activities, it also provides intel for banks and other financial institutions as a reputable source of information for over 7000+ cryptocurrency entities.
It is a strategic move for Mastercard into the crypto space as Blockchain continues to flourish into the mainstream financial ecosystem.