Mastercard Secures BitLicense and Launches Crypto Purchases via Cards

Mastercard's expansion into the crypto market continues with the acquisition of a BitLicense from the New York regulator.

The license will allow Mastercard to develop services involving stablecoins, tokenized deposits, and blockchain settlements, marking a significant step towards integrating traditional finance (TradFi) with decentralized finance (DeFi).

The company has also announced a partnership with Chainlink to enable cardholders to directly purchase cryptocurrency using their cards.

This collaboration will provide users with the ability to convert fiat currency to cryptocurrency directly from the interface and immediately use it in DeFi protocols, thereby bridging the gap between TradFi and DeFi.