Mastercard granted New York BitLicense

Mastercard Transaction Services has been granted a BitLicense by the New York State Department of Financial Services (NYDFS).

The license introduces requirements regarding consumer protection, cybersecurity, financial integrity and operational resilience for firms operating in the virtual currency marketplace.

“Clear regulatory frameworks play an important role in building trust and confidence as new forms of digital value move from experimentation toward practical application,” said Jorn Lambert, chief product officer at Mastercard. “This approval underscores our focus on aligning innovation with regulatory expectations of high levels of security, compliance and risk management.”

The BitLicense approval forms part of Mastercard’s long‑term strategy to engage with evolving payment and settlement infrastructure, supporting digital currencies such as stablecoins and tokenised deposits while maintaining and building upon the same standards that underpin its global payments network.

NYDFS has played a leading role in providing regulatory clarity and helping to foster a safe and responsible environment for the development and scaling of digital assets.