On May 27, Banca Sella received approval from the Bank of Italy to offer digital asset custody and transfers under MiCA regulations, becoming the first Italian bank to secure a crypto license. On the same day, Mastercard secured a New York BitLicense for its crypto operations, Falcon Finance launched a new stablecoin product called fUSD aimed at institutional trading, and SoFi launched a stablecoin product called SoFiUSD targeting consumer banking users. On May 28, Aave Labs subsidiaries received approvals from the UK Financial Conduct Authority.
