Mastercard obtains New York BitLicense, further expanding its stablecoin and tokenized deposit offerings.

CoinFeed reported on May 27th that, according to CoinDesk, Mastercard Transaction Services (U.S.) LLC, a subsidiary of Mastercard, has received a BitLicense from the New York State Department of Financial Services (NYDFS), allowing it to conduct digital asset-related business in the state. This approval is part of its strategy to build a blockchain-based payment and clearing infrastructure, with a focus on stablecoins and tokenized deposits. The New York BitLicense requires licensed institutions to meet stringent standards in areas such as capital, cybersecurity, compliance, and consumer protection.