Mastercard acquires CipherTrace to enhance crypto capabilities

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PURCHASE, NY – (BUSINESS WIRE) – Mastercard (NYSE: MA) to expand digital asset capabilities with agreement to acquire CipherTrace, a leading cryptocurrency intelligence company with insight into more than 900 cryptocurrencies.

As digital assets, including cryptocurrencies and non-fungible tokens (NFTs), will become more closely tied to day-to-day activities, from the way people pay and get paid to the way they invest trust and confidence. security, will be critical enablers to ensure large-scale adoption and scale. These new technologies will require new solutions and more powerful intelligence to ensure that the crypto economy is instilled with the same confidence and peace of mind that consumers now experience with more traditional payment methods.

The integrated offering will leverage the CipherTraces suite of digital assets and Mastercard cybersecurity solutions to provide businesses with greater transparency to help them identify and understand their risks and manage their regulatory and compliance obligations. digital assets.

Digital assets have the potential to reinvent commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient, said Ajay Bhalla, President, Cyber ​​& Intelligence at Mastercard. With the rapid growth of the digital asset ecosystem, there is a need to ensure that it is reliable and secure. Our goal is to leverage the complementary capabilities of Mastercard and CipherTrace to achieve this.

Bring trust and transparency to digital assets

The innovative CipherTraces platform helps customers improve their security and fraud monitoring activities for crypto-related programs. They provide solutions to some of the world’s largest banks, exchanges and other financial institutions due to their cutting-edge data analytics and algorithms to help clients take advantage of their opportunities in over 7,000 cryptocurrency entities.

We help businesses – whether banks or cryptocurrency exchanges, government regulators or law enforcement – keep the crypto economy safe, said Dave Jevans, CEO of CipherTrace. Our two companies share this vision of ensuring security and trust throughout the ecosystem. We are excited to join the Mastercard family to expand the reach of CipherTraces around the world.

The deal allows Mastercard to combine the technology, AI and cyber capabilities of the two companies to differentiate its real-time cards and payments infrastructure, enabling customers and stakeholders around the world to leverage solutions to protect their consumers and comply with regulations, as they create their own virtual asset offerings.

CipherTrace will also help drive continuous innovation with a wide range of partners, such as fintechs, crypto wallet providers, governments, and more, while enabling the company to adhere to the principles it has established for all blockchain related programs.

The acquisition is part of Mastercards’ strategy in the digital asset space to help provide customers, merchants and businesses with more choice in how they move digital value. It follows a number of investments made by the company, including partnerships with Uphold, Gemini and BitPay to create crypto cards, the creation of new platforms to test and support central bank digital currencies. , programs to support wider use of blockchain technology and NFTs, and the ability to support certain stablecoins directly on its network.

Terms of the deal were not disclosed and the deal is expected to close before the end of the year, subject to certain conditions.

About Mastercard

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our business. With connections in more than 210 countries and territories, we are building a sustainable world that opens up invaluable possibilities for all. www.mastercard.com

About CipherTrace

CipherTrace, one of the leading cryptocurrency intelligence firms, connects virtual currencies and financial services with solutions for fraud protection, anti-money laundering and financial investigation. CipherTrace derives superior intelligence from cryptocurrency by analyzing massive amounts of validated blockchain transaction attribution. The founders of CipherTrace are dedicated to protecting consumer privacy and growing the blockchain economy, while defending themselves against illicit financing. Deep expertise in cybersecurity, eCrime, payments, banking, encryption and virtual currencies forms the basis of CipherTraces’ business offerings. For more information, visit CipherTrace.com, subscribe to CipherTrace newsletters, and follow us on Twitter @CipherTrace.

Forward-looking statements

This press release contains forward-looking statements in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact may be forward-looking statements. When used in this press release, the words believe, expect, might, could, would, will, trend and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, without limitation, statements relating to future prospects, developments and business strategies of Mastercard, as well as the acquisition and operation of CipherTrace by Mastercard. We caution you not to place undue reliance on these forward-looking statements, as they speak only as of the date on which they are made. Except for the Company’s ongoing obligations under United States federal securities laws, the Company does not intend to update or otherwise revise forward-looking information to reflect actual operating results, changes in financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions or other circumstances arising and / or existing since the preparation of this press release or to reflect the occurrence of unforeseen events.

Many factors and uncertainties relating to the proposed transaction, our operations and our business environment, all of which are difficult to predict and many of which are beyond our control, influence whether forward-looking statements can or will be made. Any of these factors could cause our actual results or the impact of the acquisition to differ materially from those expressed or implied in writing in forward-looking statements made by or on behalf of Mastercard. These factors relating to the completion and impact of the acquisition include, but are not limited to, whether all necessary conditions will be met and whether the transaction will be completed on the agreed terms and in a timely manner.

For more information on other factors relating to the overall business of Mastercard that could cause Mastercard’s actual results to differ materially from expected results, please see the documents filed by the company with the Securities and Exchange Commission. , including the company’s annual report on Form 10-K for the year ended. December 31, 2020, and any subsequent report on Forms 10-Q and 8-K.

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