Mastercard Secures New York Crypto License
BITmarkets Team
May 28, 2026
Instead, Mastercard said it plans to continue expanding infrastructure related to digital asset payments and settlement, with a particular focus on stablecoins and tokenized deposits. New York’s BitLicense framework is considered one of the strictest crypto regulatory regimes in the United States, requiring companies involved in certain digital asset services for New York residents to obtain formal authorization.
Mastercard joins a growing number of firms securing BitLicenses as regulatory clarity around digital assets continues to develop across the US. Earlier this year, Galaxy received approval to broaden its institutional crypto offerings in New York, while Strike, led by Jack Mallers, secured both a BitLicense and money transmitter licenses to support its Bitcoin payment services.
Mastercard expands stablecoin and crypto payment infrastructure
The latest approval builds on Mastercard’s growing involvement in crypto-related payment services and blockchain infrastructure. In February, MetaMask launched a Mastercard-enabled payment card in New York, allowing users to spend crypto directly from self-custodied wallets at merchants that accept Mastercard.
The BitLicense approval also follows Mastercard’s acquisition of stablecoin infrastructure company BVNK in a deal reportedly valued at up to $1.8 billion. The transaction, which is expected to close later this year, includes as much as $300 million in performance-related payments and is intended to strengthen Mastercard’s ability to connect traditional payment networks with blockchain-based financial systems. The acquisition came after BVNK and crypto exchange Coinbase mutually agreed to end earlier takeover discussions.
Mastercard increases focus on tokenized financial assets
Mastercard has also been expanding its involvement in tokenized finance and blockchain-based settlement systems. Earlier this month, the company said it completed its first cross-border US Treasury transaction on the XRP Ledger, highlighting its growing interest in tokenized financial infrastructure.
Industry estimates currently place the tokenization market — excluding stablecoins — at more than $33.8 billion. The continued expansion suggests Mastercard is positioning itself more deeply within digital asset infrastructure, particularly in areas tied to stablecoin payments, tokenized assets and blockchain-based settlement networks.
Sources:
https://cointelegraph.com/news/mastercard-secures-new-york-bitlicense-for-crypto-operations
