\nAs digital assets, including cryptocurrencies and non-fungible tokens (NFTs), become more intertwined with everyday activities \u2014 from the way people pay and get paid to how they invest \u2014 trust and security will be critical enablers to ensure broad 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 trust and peace of mind that consumers currently experience with more traditional payment methods.\n<\/p>\n
\nThe integrated offering will build on CipherTrace\u2019s suite of digital assets and Mastercard\u2019s cyber security solutions to provide businesses with greater transparency to help identify and understand their risks and to help manage their digital asset regulatory and compliance obligations.\n<\/p>\n
\n\u201cDigital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient,\u201d said Ajay Bhalla, president, Cyber & Intelligence at Mastercard. \u201cWith the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe. Our aim is to build upon the complementary capabilities of Mastercard and CipherTrace to do just this.\u201d\n<\/p>\n
Bringing Trust & Transparency to Digital Assets<\/b><\/p>\n
\nCipherTrace\u2019s innovative platform helps customers enhance their security and fraud monitoring activities for crypto-related programs. They provide solutions for some of the largest banks, exchanges, and other financial institutions in the world due to their industry leading data analytics and algorithms to help customers convert on their opportunities across 7,000+ cryptocurrency entities.\n<\/p>\n
\n\u201cWe help companies \u2013 whether they are banks or cryptocurrency exchanges, government regulators or law enforcement to keep the crypto economy safe,\u201d said Dave Jevans, CEO, CipherTrace. \u201cOur two companies share this vision to provide security and trust throughout the ecosystem. We are thrilled to join the Mastercard family to scale CipherTrace\u2019s reach across the globe.\u201d\n<\/p>\n
\nThe deal enables Mastercard to combine the technology, AI and cyber capabilities of both companies to differentiate its card and real-time payments infrastructure, allowing customers and stakeholders globally to build upon and benefit from the solutions to protect their consumers and comply with regulations, as they build their own virtual asset offerings.\n<\/p>\n
\nCipherTrace will also help drive continued innovation with a diverse range of partners, like fintechs, crypto-wallet providers, governments, etc., while also allowing the company to deliver on the principles it has established for all blockchain-related<\/a> programs.\n<\/p>\n \nThe acquisition is part of Mastercard\u2019s strategy in the digital assets space to help provide customers, merchants and businesses with more choice in how they move digital value. It follows a number of investments the company has made, 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 the broader use of blockchain technology and NFTs, and the potential to support select stablecoins directly on its network.\n<\/p>\n \nTerms of the agreement were not disclosed, and the transaction is anticipated to close before the end of the year, pending certain conditions.\n<\/p>\n About Mastercard<\/b><\/p>\n \nMastercard 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<\/a><\/p>\n About CipherTrace<\/b><\/p>\n \nCipherTrace, a leading cryptocurrency intelligence company, bridges virtual currencies and financial services together with fraud protection, anti-money laundering and financial investigation solutions. CipherTrace derives superior cryptocurrency intelligence from analyzing massive amounts of validated blockchain transaction attribution. CipherTrace founders are dedicated to protecting consumer privacy and growing the blockchain economy, while defending against illicit finance. Deep expertise in cybersecurity, eCrime, payments, banking, encryption and virtual currencies form the foundation for CipherTrace\u2019s commercial offerings. For more information, visit CipherTrace.com, subscribe to the CipherTrace Newsletters and follow us on Twitter @CipherTrace.\n<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release contains forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts may be forward-looking statements. When used in this press release, the words \u201cbelieve,\u201d \u201cexpect,\u201d \u201ccould,\u201d \u201cmay,\u201d \u201cwould,\u201d \u201cwill,\u201d \u201ctrend\u201d and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements that relate to Mastercard\u2019s future prospects, developments and business strategies, as well as Mastercard\u2019s acquisition and operation of CipherTrace. We caution you to not place undue reliance on these forward-looking statements, as they speak only as of the date they are made. Except for the company\u2019s ongoing obligations under the U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, 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 any unanticipated events.\n<\/p>\n \nMany 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 outside of our control, influence whether any forward-looking statements can or will be achieved. Any one 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 any forward-looking statements made by Mastercard or on its behalf. Such factors related 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 close on agreed terms and in a timely manner.\n<\/p>\n \nFor additional information on other factors related to Mastercard\u2019s overall business that could cause Mastercard\u2019s actual results to differ materially from expected results, please see the company\u2019s filings with the Securities and Exchange Commission, including the company\u2019s Annual Report on Form 10-K for the year ended December 31, 2020, and any subsequent reports on Forms 10-Q and 8-K.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210909005577\/en\/<\/a><\/span><\/p>\n \nInvestor Relations: Jud Staniar, investor.relations@mastercard.com<\/a>, 914-249-4565 KEYWORDS:<\/b> United States North America New York<\/p>\n INDUSTRY KEYWORDS:<\/b> Networks Finance Banking Professional Services Technology<\/p>\n<\/p>\n
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Communications: Seth Eisen, seth.eisen@mastercard.com<\/a>, 914-249-3153\n<\/p>\n
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