MasterCard, the payment giant, bought ChipherTrace under a blockchain. It is worth noting that Cifferris provides services such as money laundering interception in digital currencies.
to the Report The Financial Times, MasterCard wrote in a statement on Thursday:
The company seeks to diversify its card service infrastructure and instant payments to help its customers comply with legislation in the field of virtual currency services.
Many digital currencies have become an attractive tool for criminals to launder their income by providing a platform for anonymous transactions. It should not be forgotten, however, that the Blockchain provides a transparent platform for intercepting transactions, and this can allow different companies to track criminals. MasterCard has not yet released details of the deal.
Cifertris provides tracking services for more than 900 different digital currencies. MasterCard is supposed to use the features of Cifferris in its digital asset solutions.
Ajay Bhalla, Senior Director of InformationCyber and Cyber MasterCard, spoke about the importance of the need for trusted and secure activities, referring to the growth of the digital currency market.
MasterCard has been active in the field of blockchain and digital currencies for the past year. The company had previously signed cooperation agreements with major companies such as Gemini Exchange and Bitcoin Payment Company.
In July, MasterCard CEO announced that his company should have an active presence in the space. At the time, MasterCard said it would work with various companies and banks to discuss stable coins and the supply of national digital currencies.
In May, the company conducted a survey stating that 40% of people are looking to use digital currencies in their payments.
With MasterCard’s acquisition of Cifferris, one would have to wait for the company to become more prominent in the discussion of services related to stable coins and national digital currencies.
Cryptodatcom has previously stated that it will use the Cypriot Traveler tool to coordinate with lawmakers.