The last couple of days have been a pretty wild ride for the crypto market with some coins and tokens losing half their value over the course of the rollercoaster we are currently on. This has not stopped big businesses from entering the crypto and blockchain markets. Like you would expect from people who lead these large companies they are thinking long term over the short term turmoil being face.
Mastercard is one of these companies that has made a big move. Yesterday it was announced that they purchased CipherTrace a company that specializes in crypto-focused anti-money laundering, forensics, and blockchain threat intelligence solutions. They also have the ability to track autonomis transactions and unmask them.
This type of purchase makes since for a company like Mastercard who is trying to adapt to a crypto/blockchain world. The goal of bringing this company on board is to facilitate the ability for companies to accept and deal with crypto and comply with the law. Which with how confusing regulation can be it could be a great help to many companies!
Other business expansions include an important one as it could possibly spur further financial investment. The FDIC is nearing a deal with crypto custodian Anchorage. This is being done by the FDIC so that they have someone under contract to liquidate crypto assets if they need to. Since State banks in states like in Texas are now allowed to hold crypto this would allow the FDIC to be able to liquidate the assets of need be!
Even the Nasdaq is lending its data ability to DeFiChain! DeFiChain is built atop of the Bitcoin Network and allows for the trading of tokenized stocks! Now I can’t wait for the government regulators to become clearer on these types of assets. There have been hints before about possible asset violations for these types of things.
It is important to see continued growth and especially with the market being down!
