Jack Mallers' Bitcoin payments company Strike has obtained a BitLicense and Money Transmitter License from the New York State Department of Financial Services, clearing the path to offer its complete product lineup to New York residents and businesses.
Key Takeaways
Strike secured both a BitLicense and Money Transmitter License from New York’s financial regulator, opening the state’s market to its full product suite.
New York residents can now convert paychecks directly into Bitcoin and pay bills from a BTC balance.
The BitLicense is one of the most demanding crypto licenses in the U.S., requiring capital reserves, cybersecurity reviews, and regular audits.
The licenses were technically approved in February 2026 and granted to Zap Solutions, Inc., Strike’s parent company. New York’s BitLicense has long been regarded as the most demanding crypto regulatory framework in the country – applicants face strict capital reserve requirements, cybersecurity examinations, and recurring audits. Passing it carries weight in an industry where regulatory credibility remains contested.
With the approval, Strike’s core services are now live in the state. Users can buy and sell Bitcoin through linked bank accounts, debit cards, or wire transfers. A paycheck-to-Bitcoin feature lets workers convert up to 100% of direct deposits into BTC, with zero conversion fees on the first $20,000 per month. Automated tools – including price-triggered orders and recurring buys set on hourly, daily, weekly, or monthly schedules – come with fees waived after the first week for personal accounts. A bill pay function allows users to settle utilities, credit cards, and mortgage payments directly from a Bitcoin balance.
On custody, Strike holds assets 1:1 and does not lend them out. Users can withdraw to cold storage at no cost, with Strike covering on-chain transaction fees.
Mallers called the development a “defining milestone,” framing Strike’s entry into New York – which he described as the global center of finance – as a direct bid to compete with traditional financial institutions. The company joins a short list of NYDFS-regulated entities in the crypto space, including Anchorage Digital, MoonPay, and Bullish.
Strike has raised $90 million in total funding, including a Series B in September 2022.
The company’s ambitions don’t stop at brokerage and payments. Strike has outlined plans to expand into Bitcoin-backed lending, a product that would allow users to borrow fiat currency against their BTC holdings without selling the asset – a structure that has grown popular among long-term holders reluctant to trigger taxable events.
Analysts expect Strike’s New York launch to push Bitcoin further into everyday financial activity, particularly through its Lightning Network-powered payment rails, which are designed to handle fast, low-cost transactions at a consumer level.
