CipherTrace, a cryptocurrency tracking firm, has been acquired by Mastercard with a view to helping businesses "identify and understand their risks."

Mastercard has announced that it has acquired cryptocurrency tracking firm CipherTrace with a view to providing "additional transparency and support" for the emerging ecosystem of digital assets.

CipherTrace specializes in cryptocurrency-focused anti-money laundering, forensics, and blockchain threat intelligence solutions, with an analytics platform that enables the tracking and deanonymization of crypto transactions.

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