Strike Secures New York BitLicense
Strike, the Bitcoin financial services company founded by Jack Mallers, announced that it has been granted both a BitLicense and a money transmitter license from the New York State Department of Financial Services (NYDFS). This approval allows Strike to legally operate in New York, one of the most strictly regulated digital asset markets in the United States. With the licenses, Strike can offer its full suite of Bitcoin brokerage, payment, and custody services to individuals and businesses across the state.
New York's BitLicense regime has long acted as a gatekeeper for digital asset companies seeking access to the state's financial markets. Many crypto firms have chosen not to pursue the license due to the high compliance costs and ongoing regulatory oversight. Mallers described the achievement as a pivotal milestone for the company. "Receiving our BitLicense is a defining milestone for Strike," Mallers said in a statement. "Strike is building the leading Bitcoin financial institution. With our BitLicense, we can now bring that mission to New York, the global center of finance."
Strike's Bitcoin Services
With the regulatory green light, New York users will have access to Strike's comprehensive Bitcoin services. The platform enables customers to buy and sell Bitcoin via linked bank accounts, debit cards, or wire transfers. Additionally, users can directly deposit their paychecks and choose to convert a portion or all of their wages into Bitcoin.
The platform includes automated trading tools such as recurring purchases and price-triggered orders. Recurring buys allow users to schedule Bitcoin purchases at fixed intervals, while target orders automatically execute trades when Bitcoin reaches a specific price. Strike also allows users to pay bills using their Bitcoin balance, including utilities, credit card payments, and mortgages. This feature underscores the company's goal of positioning Bitcoin as a tool for everyday financial activity, not just an investment asset.
According to Strike, customer Bitcoin and cash balances are held on a one-to-one basis and are not lent out or used for company operations. The company says users can withdraw Bitcoin to personal wallets at no cost, with Strike covering on-chain transaction fees. The license also places Strike under NYDFS supervision, requiring periodic audits, cybersecurity reviews, and adherence to capital reserve requirements.
Strike's expansion into New York comes as the company outlines broader growth plans. In late 2025, Mallers stated that the firm intends to add Bitcoin-backed lending, allowing customers to borrow fiat currency while maintaining their Bitcoin holdings.