Mastercard Transaction Services (U.S.) LLC (MTS US), Mastercard’s US subsidiary for international money transfers, has been granted a BitLicense by the New York State Department of Financial Services (NYDFS) to support stablecoin and tokenized deposit settlement.
New York’s BitLicense framework is considered one of the industry’s most comprehensive regulatory regimes. NYDFS has been instrumental in creating regulatory clarity and supporting the responsible growth of digital assets.
The approval reflects Mastercard’s commitment to meeting rigorous regulatory standards. Regulatory clarity plays a key role in supporting trust as digital value applications continue to mature beyond experimentation, according to 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,” Lambert noted.
Mastercard said the approval aligns with its broad approach to supporting the growth of payment and settlement infrastructure for digital currencies such as stablecoins and tokenized deposits, while continuing to uphold the standards of its worldwide payments network.
