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Mastercard acquires blockchain security start-up CipherTrace

The company says that CipherTrace’s security and fraud detection capabilities provide “additional transparency and support” for the digital asset ecosystem.

Mastercard plans to integrate the start-up’s suite of crypto intelligence solutions with its own cybersecurity offerings.

It says this will help businesses looking to build out their own virtual asset offerings identify and understand risks and to “help manage their digital asset regulatory and compliance obligations”.

Ajay Bhalla, president of cyber and intelligence at Mastercard, says: “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.”

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