Payments firm Strike (Zap Solutions, Inc.) has been granted a New York State Department of Financial Services (NYDFS) BitLicense and a money transmitter license (MTL), enabling it to offer Bitcoin services to New York residents and businesses. The approvals, issued in February, allow Strike to operate under New York’s digital asset regulatory framework.
With the licenses, New Yorkers can buy and sell Bitcoin (BTC) on Strike, schedule recurring or price-targeted purchases, convert direct-deposited paychecks into Bitcoin, pay bills from Bitcoin balances, and withdraw funds to self-custody wallets. Founder and CEO Jack Mallers said receiving the BitLicense is a defining milestone that permits expansion of Strike’s Bitcoin-based financial services in a major market.
A BitLicense authorizes digital currency business with New York residents but does not grant nationwide permission; companies seeking U.S.-wide operations typically must obtain money transmitter licenses in other states. New York’s framework requires licensed firms to maintain capital reserves, implement anti-money-laundering (AML) controls, and undergo regular regulatory examinations.
NYDFS approvals are often viewed as a key benchmark for U.S. crypto firms. Other companies holding BitLicenses include MoonPay, Coinbase, eToro, Robinhood and Circle. New York regulators also enforce compliance: in 2024, Genesis Global Trading surrendered its BitLicense and paid an $8 million penalty after probes found AML and cybersecurity shortcomings.
Former NYDFS superintendent Adrienne Harris has described New York as having an “outsized role to play” in the crypto ecosystem, with lawmakers frequently consulting the regulator on digital asset legislation.