Strike received a BitLicense and money transmitter license from the New York State Department of Financial Services, clearing the way for bitcoin financial services business to operate in the state.
“Receiving our BitLicense is a critical milestone for Strike,” said Jack Mallers, Founder and CEO of Strike. “With our BitLicense, we can now bring that mission to New York, the global financial center.”
Strike’s entry into New York is part of its expansion plans outlined in November 2025, when Mallers said his platform would add bitcoin-backed loans to allow users to borrow fiat currency while continuing to hold their bitcoin. The move would place Strike in a sector that saw several high-profile failures in 2022, when lenders including BlockFi, Celsius and Genesis filed for bankruptcy during 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 heavily regulated digital asset markets in the United States. The company can now provide services that include buying and selling bitcoin, salary deposits converted to bitcoin and bill payments made from a bitcoin balance.
Strike may also offer tools such as recurring buys and price-triggered orders that execute trades when bitcoin reaches a set level. Users can also convert up to 100% of direct deposit wages into bitcoin, with conversion fees waived on deposits up to $20,000 each month.
Strike said customer bitcoin and cash balances remain one-to-one and are not loaned out or used for business operations.
The license places the company under New York State Department of Financial Services oversight, which includes audits, capital reserve rules and cybersecurity investigations.
