Strike, the payments company led by Jack Mallers, has received a virtual currency license and a money transmitter license from the New York State Department of Financial Services (NYDFS).
The approvals, granted in February, authorize Zap Solutions, Inc. (doing business as Strike) to operate under New York’s digital asset regulatory framework, the company said in a Thursday release.
What New York users can do on Strike
With the licenses in place, New York residents can use Strike to buy and sell bitcoin, set recurring or price-targeted purchases, and convert direct-deposited paychecks into bitcoin.
Strike also said users can pay bills from bitcoin balances and withdraw funds to self-custody wallets.
Mallers calls it a milestone
Mallers said the BitLicense approval marks a major step for the firm.
He said in a statement:
“Receiving our BitLicense is a defining milestone for Strike.”
A BitLicense allows companies to conduct digital currency business with New York residents, but it does not by itself authorize nationwide operations.
NYDFS requirements and broader context
The NYDFS framework requires firms to maintain capital reserves, implement Anti-Money Laundering controls, and undergo regular regulatory examinations.
Other firms holding BitLicenses include Coinbase and Robinhood, according to NYDFS records.
New York has also taken enforcement actions against license holders.
In 2024, Genesis Global Trading agreed to surrender its BitLicense and pay an $8 million penalty after investigators found failures in its AML and cybersecurity programs.
In 2025, former NYDFS superintendent Adrienne Harris said the state has an “outsized role to play” in the crypto ecosystem and that lawmakers frequently consult the regulator when drafting digital asset legislation.
