Mastercard Transaction Services (U.S.) LLC has received a BitLicense from the New York State Department of Financial Services, according to a company statement.

The license allows the payments company to operate digital asset services under New York's regulatory framework, which establishes requirements for consumer protection, cybersecurity, financial integrity and operational resilience.

"Clear regulatory frameworks play an important role in building trust and confidence as new forms of digital value move from experimentation toward practical application," said Jorn Lambert, Chief Product Officer at Mastercard.

The approval supports Mastercard's strategy to engage with payment and settlement infrastructure for digital currencies including stablecoins and tokenized deposits. The company said the license aligns with standards that support its global payments network.

New York's BitLicense framework has been recognized for providing regulatory clarity in the digital assets sector. The New York State Department of Financial Services has established comprehensive requirements for companies seeking to operate digital asset businesses in the state.

Mastercard operates in more than 200 countries and territories worldwide. The company provides digital payment services and technology infrastructure for financial transactions.