Mastercard has agreed to buy blockchain analytics company CipherTrace, which sells cryptocurrency anti-money laundering services, as the payments company deepens its bet on digital assets.
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Mastercard to buy CipherTrace as bet on crypto deepens
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The deal will allow Mastercard to “differentiate its card and real-time payments infrastructure” by helping its customers to comply with regulations as they increasingly “build their own virtual asset offerings”, the company said on Thursday. The terms of the deal were not disclosed. The ability to hold most cryptocurrencies anonymously has made them attractive to criminals that are looking to launder dirty funds. However, every transaction is typically recorded on an immutable blockchain, leaving a visible trail for researchers.
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