Mastercard obtains BitLicense from New York to launch digital asset business

According to CoinDesk, Mastercard Transaction Services (U.S.) LLC, a subsidiary of Mastercard, has been granted a BitLicense by the New York State Department of Financial Services (NYDFS) to conduct digital asset related businesses in New York State. This move is part of its strategy to build a blockchain based payment and clearing infrastructure, with a focus on stablecoins and tokenized deposits. The New York BitLicense requires licensed institutions to meet strict standards in terms of capital, cybersecurity, compliance, and consumer protection.