As reported by CoinDesk, Mastercard has agreed to purchase a company that scans blockchains for illegal transactions, CipherTrace, which means that Mastercard can now track more than 900 cryptos. Further details were not revealed.
This purchase represents the newest important step taken in the crypto tracing sector as governments and banks want to increase their levels of monitoring transactions and compliance.
Just a couple of months back, Third Point Ventures led a $27 million investment in CipherTrace. The round followed a $100 million Series D round.
Ajay Bhalla, the President of Cyber & Intelligence at Mastercard, declared:
Mastercard is becoming more and more involved in crypto. For example, this summer, the company revealed that it would pilot the use of the Circle-administered USD coin as a way of creating a bridge between crypto-using buyers and cash-using merchants.
Raj Dhamodharan, the VP of Mastercard, declared in February: