Commentary of Mastercard's Deutsche Bank Technology Conference Update

Mastercard has focused on the crypto user flows by enabling consumers to purchase crypto via on-ramp rails in addition to spending crypto through partnership cards and crypto to fiat off-ramps. The second aspect of Mastercard's strategy is their blockchain analytics and services products.

Mastercard has invested heavily in regulatory and compliance integrations. In September 2021, Mastercard purchased crypto intelligence firm CipherTrace for an undisclosed amount. CipherTrace analyzes and rates crypto wallet compliance and AML policies to provide clients with an apples-to-apples basis of comparison. CipherTrace also scores every public blockchain address for risk assessment by analyzing every transaction and in/out flow to the particular wallet. In addition to CipherTrace, Mastercard purchased Ekata in June 2021 for $850mm. Ekata performs Know Your Customer (KYC) and identity verification. Finally, in March 2017, Mastercard acquired NuData Security, a risk assessment and verification provider, for an undisclosed amount.