TLDR
- Strike secured a BitLicense and Money Transmitter License from the New York State Department of Financial Services.
- The approval allows Strike to offer bitcoin financial services to residents and businesses across New York.
- Customers in New York can now buy and sell bitcoin through bank transfers, debit cards, and wire payments.
- Strike enables users to convert up to 100 percent of direct deposits into bitcoin with waived fees up to $20,000 per month.
- The company confirmed that it holds all customer bitcoin and cash balances on a one-to-one basis.
Strike has secured a BitLicense and Money Transmitter License from the New York State Department of Financial Services. The approval allows the company to operate across New York’s regulated digital asset market. The decision clears the way for Strike to provide bitcoin financial services to residents and businesses statewide.
Strike Gains NYDFS Approval to Operate in New York
The New York State Department of Financial Services granted Strike both a BitLicense and a Money Transmitter License. As a result, Strike can offer its full suite of bitcoin services across the state. The regulator will supervise the company under capital, audit, and cybersecurity standards.
Jack Mallers, founder and CEO of Strike, confirmed the development in a public statement. He said, “Receiving our BitLicense is a defining milestone for Strike.” He added, “With our BitLicense, we can now bring that mission to New York, the global center of finance.” He also stated that the company operates at high standards while delivering brokerage, savings, and payments services.
Bitcoin Services Now Available to New York Residents
Following approval, Strike can provide bitcoin brokerage and payment services to individuals and businesses in New York. Customers can buy and sell bitcoin through linked bank accounts, debit cards, or wire transfers. The platform also supports recurring purchases and price-triggered target orders.
Users can convert up to 100% of direct-deposited wages into bitcoin each month. Strike waives conversion fees on deposits up to $20,000 per month. Customers can also pay utility bills, credit card balances, and mortgages directly from Bitcoin balances.
Strike confirmed that it holds customer bitcoin and cash balances on a one-to-one basis. The company stated that it does not lend or use customer assets for corporate operations. Customers can withdraw bitcoin to cold storage without fees, while Strike covers on-chain transaction costs.
Expansion Plans Include Bitcoin-Backed Lending
Strike outlined broader expansion plans in November 2025. At that time, Mallers said the platform would introduce bitcoin-backed lending. The service would allow users to borrow fiat currency while retaining their bitcoin holdings.
The lending model enters a sector that faced failures in 2022. Lenders such as BlockFi, Celsius, and Genesis filed for bankruptcy during the crypto market downturn. Strike has not yet announced a launch date for its bitcoin-backed lending product in New York.
With the licenses now in place, Strike operates under direct NYDFS supervision. The oversight includes ongoing audits, capital reserve requirements, and cybersecurity examinations. The company stated that it looks forward to serving New York customers under the state’s regulatory framework.
