PANews reported on May 27th that, according to CoinDesk, Mastercard Transaction Services (US) LLC, a subsidiary of Mastercard, has received a BitLicense from the New York State Department of Financial Services (NYDFS), allowing it to conduct digital asset-related business in the state. This approval 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 stringent standards in areas such as capital, cybersecurity, compliance, and consumer protection. Mastercard stated that the license will support its development in digital currencies such as stablecoins and tokenized deposits, while adhering to the compliance and operational standards of its global payment network, promoting the parallel development of traditional financial systems and blockchain payments.