Mastercard Strengthens Digital Asset Security with Close of CipherTrace Acquisition

Rhea-AI Summary

Mastercard (NYSE: MA) has successfully completed its acquisition of CipherTrace, a prominent provider of cryptocurrency intelligence and fraud solutions. This acquisition marks a significant advancement in Mastercard's strategy for digital assets, enhancing its capabilities in AI, cyber, and blockchain technologies. The integration aims to provide improved transparency and risk management for financial institutions, helping them meet regulatory requirements. Mastercard's president of Cyber and Intelligence, Ajay Bhalla, emphasized the importance of collaboration in fostering security and trust within the payments ecosystem.

Positive

• Acquisition of CipherTrace enhances Mastercard's digital asset strategy.
• Combines AI, cyber, and blockchain capabilities for greater transparency.
• Supports compliance and risk management for financial institutions.

Negative

• None.

PURCHASE, N.Y.--(BUSINESS WIRE)-- Mastercard (NYSE: MA) today announced it has completed its acquisition of CipherTrace, a leading cryptocurrency intelligence company that offers digital asset security and fraud solutions for some of the world’s largest banks, exchanges and other financial institutions.

“Today marks a significant milestone for Mastercard as we further enhance our strategic capabilities, technologies and teams to support the evolution of digital assets,” say Ajay Bhalla, president of Cyber and Intelligence at Mastercard. “We believe that working together across the industry, we can deliver more security, transparency and trust to the payments ecosystem.”

The deal creates an integrated offering that combines AI, cyber and blockchain capabilities to provide businesses with greater transparency to help identify and understand their risks and manage regulatory and compliance obligations. The acquisition advances Mastercard’s digital assets strategy and differentiates its real-time payments infrastructure.

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 company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006164/en/

Investor Relations: Jud Staniar, investor.relations@mastercard.com, 914-249-4565

Communications: Seth Eisen, seth.eisen@mastercard.com, 914-249-3153

Source: Mastercard Investor Relations

FAQ

What is the purpose of Mastercard's acquisition of CipherTrace?

The acquisition aims to enhance Mastercard's capabilities in digital asset security, improve transparency, and help businesses manage regulatory compliance.

How does the CipherTrace acquisition impact Mastercard (MA)?

It strengthens Mastercard's digital assets strategy and differentiates its offerings in real-time payments, providing enhanced risk management tools for clients.

What technologies are integrated through the CipherTrace acquisition?

The acquisition integrates AI, cyber, and blockchain technologies to improve digital asset security and fraud prevention.

Who is leading Mastercard's cyber and intelligence division?

Ajay Bhalla is the president of Cyber and Intelligence at Mastercard.

What does Mastercard aim to achieve with CipherTrace's capabilities?

Mastercard aims to deliver greater security, transparency, and trust in the payments ecosystem.