Mastercard Inc. has completed a deal to purchase cybersecurity company Recorded Future for $2.65 billion, with the goal of strengthening the security of its vast global payments network. The acquisition, previously owned by private equity firm Insight Partners, will enhance the credit card giant’s use of artificial intelligence to protect against cyber threats and fraud.
Insight Partners had obtained a majority stake in Recorded Future in 2019 for over $780 million. Serving clients in 75 countries, Recorded Future plays a crucial role in combating cybercrime, which is estimated to cost $9.2 trillion globally this year. Chief Services Officer Craig Vosburg highlighted that the partnership with Recorded Future will drive innovation, develop intelligent models, and proactively address cyber threats. The acquisition is expected to be finalized in the first quarter of the upcoming year.
In addition to the acquisition, Mastercard has collaborated with European crypto payments infrastructure provider Mercuryo to introduce a euro-denominated debit card, supporting non-custodial cryptocurrency wallets. This move follows the launch of a pilot crypto debit card with the MetaMask wallet, showcasing Mastercard’s commitment to integrating digital assets into everyday transactions. The shift towards self-custody in the cryptocurrency industry emphasizes user control over private keys and funds, promoting greater autonomy and individual security responsibilities.