Mastercard secures license for crypto operations
Mastercard’s US transaction services unit has received a BitLicense from the New York State Department of Financial Services, allowing the company to conduct regulated digital asset business activity in the state.
The company plans to continue developing payment and settlement infrastructure tied to digital assets, focusing on stablecoins and tokenized deposits.
New York’s BitLicense is widely regarded as one of the strictest state-level crypto regulatory frameworks in the United States, requiring companies to obtain the license to offer certain crypto-related financial services to New York residents.
Mastercard joins a growing list of companies that have recently secured a New York BitLicense, including Galaxy and Bitcoin payments company Strike, which obtained both a BitLicense and money transmitter licenses to support its Bitcoin (BTC) focused payment services in New York.