Global Crypto Market

  • Market Cap: $1,170,932,098,931.27
  • 24h Vol: $88,699,220,672.55
  • BTC Dominance: 38.87%

Mastercard, Mercado Libre to collaborate on bolstering crypto security in Brazil – CryptoSlate

The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $29,977.86 and BTC market dominance is %. The price of Ethereum is $1,782.12 and ETH market dominance is %. The best performing cryptoasset sector is Terra Eco, which gained 45%.
Welcome Bonus: Sign Up & Get Up to $150 in BTC
Mercado Libre will use Mastercard’s CipherTrace Technology to monitor, identify, and understand risks in the crypto space.
Cover art/illustration via CryptoSlate
Payment technology company Mastercard has teamed up with the Latin American (LATAM) e-commerce firm Mercado Libre to improve the security and transparency of its crypto program in Brazil using Mastercard’s CipherTrace technology.
Mastercard acquired CipherTrace, a crypto intelligence and analytics firm, in 2021. Mercado Libre will use CipherTrace to monitor, identify, and understand risks in the crypto space, according to a June 8 news release.
CipherTrace’s technology would also help the e-commerce company manage regulatory and compliance requirements.
Mastercard’s President of Cyber & Intelligence Ajay Bhalla touted the CipherTrace technology, saying:
The potential for cryptocurrencies to change our everyday experiences is massive. But every interaction and experience must be protected. Through advanced crypto intelligence, Mastercard’s CipherTrace technology is strengthening the security and transparency of the crypto ecosystem and bringing trust to these new payment flows.
Mercado Pago’s Senior Vice President and COO Paula Arregui said the partnership aligns with the company’s goal of democratizing commerce and financial services.
This news comes as Brazil continues warming up to crypto. According to data from the country’s central bank, Brazilians purchased $4.27 billion worth of crypto in the past year. Bitcoin (BTC) was the most traded coin, especially after notching $65,000 in May 2021. This month also recorded the highest trading volume, with Brazilians purchasing $756 million worth of crypto.
Brazil’s rapid adoption of cryptos also saw the country’s stock exchange, B3, announce plans to launch BTC futures within the next six months.
Apart from citizens, the Brazilian government is also looking to recognize cryptocurrencies. Earlier this year, the Economic Affairs Commission (CAE) of the Senate approved a project that regulates the rules for the cryptocurrency market in Brazil.
Lawmakers are pushing for the implementation of House bill 4401/21, which seeks to establish an agency to oversee Brazil’s crypto industry. The bill also exempts legal entities from taxes associated with the processing, mining, and conservation of cryptos.
Jinia is a fintech writer based in Stockholm, Sweden. With years of experience, she has written about cryptocurrency and blockchain for renowned publications such as Cointelegraph, CoinMarketCap, Bitcoinist, Invezz, etc.
Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.
Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitcoin is a consensus network that enables a new payment system and completely digital money. Learn more
Mastercard Inc is a leading global payments & technology company that connects consumers, businesses, merchants, issuers & governments around the world. Learn More
Got a story tip? Email [email protected]
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2022 CryptoSlate. All rights reserved. Terms | Privacy

Please add [email protected] to your email whitelist.
Stay connected via


Leave a Comment

Your email address will not be published.