Mastercard's focus on crypto and digital currencies appears to have taken a greater dimension given the company'due south recent motion.

According to a release on Th, the global payments giant has reached an understanding to acquire CipherTrace, a blockchain intelligence business firm with crypto forensics capabilities for over 900 cryptocurrencies.

As part of the acquisition, Mastercard says it plans to integrate CipherTrace's operations into its ain cyber security solutions for digital avails.

According to the announcement, Mastercard volition combine its cyber capabilities with CipherTrace applied science to differentiate its card and real-time payments architecture. For Mastercard, the bargain will allow clients and partners to adopt digital assets while maintaining compliance with fiscal regulatory provisions.

Commenting on the acquisition, Mastercard's cyber and intelligence main Ajay Bhalla remarked that the growth of the crypto market has necessitated the need for trusted and safe operations.

Indeed, Mastercard has been visible in the crypto and blockchain investment scene, including partnerships with notable crypto primitives in the crypto credit and debit card arena, such as Gemini and BitPay.

Back in July, the company'southward CEO stated that Mastercard needed to institute a significant presence in the crypto space. At the time, the payments behemothic revealed plans to become the de-facto testing partner for stablecoin and central banking company digital currency projects.

In May, the visitor published a survey stating that 40% of people intend to prefer crypto for payments in 2022.

Related: CipherTrace develops Monero tracing tool to aid U.s.a. DHS investigations

The acquisition of a major histrion in the crypto forensics arena like CipherTrace might be geared towards greater interaction with primal banks and stablecoin issuers on digital currency matters.

Every bit previously reported by Cointelegraph, Crypto.com announced plans to integrate CipherTrace'southward "Traveller" tool into its compliance toolkit as a way of ensuring compliance with the Fiscal Activity Job Force's "Travel Dominion."