Mastercard has secured a BitLicense from the New York State Department of Financial Services, a key regulatory clearance as the payments network moves to support stablecoin and tokenized deposit settlement across its global infrastructure.

Mastercard has secured a highly coveted BitLicense in New York, anchoring its compliance-first strategy for stablecoins on Wall Street.

The payments giant said the approval supports its push into stablecoins and blockchain-based settlement infrastructure.