Payments firm Strike (Zap Solutions, Inc.) was granted a BitLicense and a money transmitter license by the New York State Department of Financial Services in February, clearing the way for the company to offer Bitcoin services to New York residents and businesses under the state’s digital asset framework.
Under the approvals, New Yorkers can buy and sell Bitcoin on Strike, set recurring or price-targeted purchases, convert direct-deposit paychecks into BTC, use Bitcoin balances to pay bills, and withdraw funds to self-custody wallets. Founder and CEO Jack Mallers called the BitLicense a defining milestone that enables Strike to expand its Bitcoin-focused financial products in a major U.S. market.
A New York BitLicense authorizes digital-currency activity with state residents but is not a nationwide permission; firms typically must secure money transmitter licenses in other states to operate across the U.S. New York’s licensing framework requires licensed firms to maintain capital reserves, implement anti-money-laundering controls, and submit to regular regulatory examinations.
NYDFS approvals are widely viewed as an important compliance benchmark for U.S. crypto firms. Other companies holding BitLicenses include MoonPay, Coinbase, eToro, Robinhood and Circle. New York regulators also enforce compliance aggressively—Genesis Global Trading surrendered its BitLicense in 2024 and paid an $8 million penalty after regulators found AML and cybersecurity shortcomings.
Former NYDFS superintendent Adrienne Harris has characterized New York as playing an outsized role in the U.S. crypto ecosystem, with lawmakers frequently consulting the regulator on digital-asset policy.