Strike receives BitLicense and money transmitter license from New York State Department of Financial Services, clearing path for Bitcoin Financial services companies operating in the state.
“Obtaining our BitLicense is a decisive milestone for Strike,” said Strike founder and CEO Jack Mallers. “With our BitLicense, we can now bring this mission to the global financial capital of New York.”
Strike’s entry into New York is part of its expansion plans laid out in November 2025, when Mallers said his platform would add Bitcoin-backed loans, allowing users to borrow fiat currencies while continuing to hold Bitcoin. The move would put Strike into an industry that endured a number of high-profile failures in 2022, when lenders including BlockFi, Celsius and Genesis filed for bankruptcy amid the crypto market downturn.
The approval announced Thursday allows Strike to offer its products to individuals and businesses across New York, one of the most highly regulated digital asset markets in the United States. The company can now offer services including buying and selling Bitcoin, converting salary deposits into Bitcoin and paying bills with Bitcoin balances.
Strike can also offer tools like periodic buy and price-triggered orders, which execute trades when Bitcoin reaches set levels. Users can also convert up to 100% of their direct-deposited paychecks into Bitcoin, with conversion fees waived for monthly deposits of up to $20,000.
Strike said customers’ Bitcoin and cash balances are still held one-to-one and will not be loaned out or used for company operations.
The license subjects the company to regulation by the New York State Department of Financial Services, including audits, capital reserve rules and cybersecurity inspections.
