MasterCard says it has acquired CipherTrace, a company that sells cryptocurrency anti-money laundering services, to increase its expertise in the field of cryptocurrencies.

CipherTrace is described as a crypto forensics startup that uses sophisticated technology coupled with human intelligence to analyse blockchain transactions to help companies and law enforcement monitor suspicious activity and map out the crypto-criminal ecosystem.

Its mission is to protect financial institutions from virtual asset laundering risks and crypto-related threats while its vision is to grow the blockchain economy by making…

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