Mastercard To Acquire Crypto Intelligence Firm CipherTrace
Mastercard wants to approach the crypto world but not without doing its research first, Visa has also confirmed its flight into the crypto space, and two being rivals, the adoption of the cryptocurrency has turned into a competition. It is not like Visa is making this approach without any tactical analysis of the situation first, but it is the Mastercard taking precautionary steps before starting a hefty crypto project as it has recently acquired CipherTrace, which is a crypto intelligence data provider.
CipherTrace can be termed as the search engine for the crypto world, it has all the relevant information, logs, trading, and mining policies for all the cryptocurrencies out there, and now Mastercard has become the sole owner of the corporation.
Reportedly the crypto intelligence firm has data on over 900 crypto tokens and growing; with all such data, think of the insights Mastercard will be able to extract. It would be like going with different crypto signals in relation to trading and mergers but not the ones that are based on hunches and foreplay but with those that have a rock-solid foundation and are backed with intelligent data.
Mastercard Adopts CipherTrace As Forensics Outfit
In another scenario, it is a likely possibility that Mastercard will be using this company as a resource that can be used as a service for the sake of making better and informed decisions, measuring risks, and identifying any obnoxious trading pattern before even making the trade. This could become the game-changer of the crypto industry, and Mastercard will have the whole authority to use or lend it to other trending companies and enterprises.
The overall take of the Mastercard on this whole situation is that it is going to provide the local as well as the international commerce enterprises to adopt cryptocurrencies but being able to do so with a hint of caution. All this data that is being collected at the CipherTrace is going to help Mastercard to build the foundation of more robust and tenacious crypto analytics unlike the world has seen before. Mastercard wants to develop crypto products that are safe, more efficient, and free from any misinterpretations of being too volatile for consumers.