Mastercard secures New York State Bitlicense as it continues to expand crypto services

Mastercard has been granted a New York State BitLicense, a move that supports its long-term strategy to engage with digital currencies like stablecoins and tokenized deposits. According to Mastercard's Chief Product Officer, Jorn Lambert, clear regulatory frameworks are crucial for building trust in new digital value forms. This approval highlights Mastercard's commitment to innovation while adhering to strict security, compliance, and risk management expectations. New York has issued approximately 40 BitLicenses since 2015, with three granted in 2026, including to Mastercard. Companies require a BitLicense or state banking charter to serve New York customers, though the license's stringent requirements have posed challenges for some startups. Mastercard has been actively expanding its cryptocurrency services, partnering with over 100 entities to integrate blockchain and stablecoin payments for various financial applications. The company is also growing its crypto card business and has agreed to acquire stablecoin startup BVNK.

(Source：The Block)