Global payment giant Mastercard is now ready to expand its crypto payments after getting a key New York (NY) State approval. 

On Wednesday, the firm announced it had been granted a BitLicense by the NY State Department of Financial Services (NYDFS).

The license allows Mastercard to conduct crypto payment activities in the state. In other words, it will now clear and settle crypto and tokenized assets without the need for third parties. 

Jorn Lambert, chief product officer at Mastercard, billed the approval as a crucial way to build trust and confidence in the sector.  

Clear regulatory frameworks play an important role in building trust and confidence as new forms of digital value move from experimentation toward practical…