Mastercard gains New York BitLicense as it expands crypto payments business

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Mastercard gains NY BitLicense

Highlights

Mastercard obtained a New York State BitLicense in 2026 to support its strategy for responsible engagement with stablecoins and tokenized deposits.
The BitLicense, considered among the strictest regulatory regimes, was one of only three granted by New York this year, with approximately 40 issued since 2015.
Mastercard is expanding its crypto payments ecosystem, partnering with Binance, Circle, Ripple, and others, while acquiring stablecoin startup BVNK to enhance stablecoin spending options.

License approval supports digital asset strategy

As reported by The Block, Mastercard said the New York State BitLicense fits its long-term strategy to engage responsibly with changing payment and settlement infrastructure tied to digital currencies, including stablecoins and tokenized deposits.

Chief Product Officer Jorn Lambert said in a release that clear regulatory frameworks help build trust and confidence as new forms of digital value move from experimentation toward practical use. He said the approval highlights Mastercard's focus on combining innovation with regulatory expectations for security, compliance and risk management.

New York has officially granted three Virtual Currency Business Activity Licenses in 2026, including to GalaxyOne Prime and Zap Solutions. Since the program began in 2015, the state has issued about 40 such licenses, and companies need either a BitLicense or a state banking charter to legally serve New York customers.

Crypto expansion faces strict New York rules

The BitLicense has developed a reputation for strict requirements that have kept some startups from offering services in New York. Some companies have created separate legal entities for the state, while eToro, which received a BitLicense in 2023, only launched crypto services there earlier this year.

Mastercard is continuing to widen its crypto operations through a broader initiative involving more than 100 partners, including Binance, Circle, Ripple, PayPal, Paxos, MetaMask, Gemini and Crypto.com. The effort is designed to connect blockchain and stablecoin payments with traditional payment rails across cross-border transfers, business-to-business transactions, payouts and commerce.

The company is also expanding its crypto card business with offerings tied to MetaMask, Bybit and Gemini. It has said these capabilities allow consumers to spend stablecoins from their wallets at everyday merchants, and it has also agreed to acquire stablecoin startup BVNK.

In our earlier report on DTCC’s plan to connect its DTC tokenization service with the Stellar blockchain, we described how the infrastructure provider aims to bring tokenized versions of DTC-custodied assets onto a public network in H1 2027. We also noted that the move follows a December 2025 SEC no-action letter and is designed to preserve existing investor protections while improving interoperability between traditional post-trade systems and on-chain markets.

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