Users in New York can now buy and sell Bitcoin, pay bills from Bitcoin and transfer funds to self-custody wallets
Strike, a US-based payments company, has received both a virtual currency license and a money transmitter license from the New York State Department of Financial Services. These approvals enable Strike to offer Bitcoin services to residents and businesses in New York under the state’s regulated digital asset framework.
The licenses, granted in February, allow Strike, officially Zap Solutions, Inc., to expand its Bitcoin offerings in one of the country’s largest financial markets. Users in New York can buy and sell Bitcoin, set recurring or price-targeted purchases, and convert direct-deposited paychecks into Bitcoin. They can also pay bills from Bitcoin balances or transfer funds to self-custody wallets.
CEO Jack Mallers described the BitLicense approval as a key milestone for Strike, emphasizing that it provides the regulatory foundation to grow its Bitcoin-based services. While the New York license permits operations within the state, companies still need separate licenses to operate nationwide. Many US crypto firms, including Coinbase, Robinhood, and Circle, have similarly obtained BitLicenses to access New York’s regulated market.
The licensing framework requires companies to maintain sufficient capital reserves, implement anti-money laundering controls, and undergo regular regulatory examinations. Strike’s approval positions it among firms that have met New York’s strict compliance standards, often seen as a benchmark in the US crypto sector.
New York’s oversight role has also led to enforcement actions against license holders. In recent years, Genesis Global Trading surrendered its BitLicense and paid a fine over AML and cybersecurity failures. Strike’s new licenses mark a step forward in its US expansion, highlighting the company’s commitment to offering regulated Bitcoin services in a highly controlled and high-profile market.
These approvals allow Strike to provide secure and compliant digital currency options to New Yorkers, reflecting the state’s growing influence on national cryptocurrency regulations and the importance of licensed operations for companies seeking legitimacy in the crypto industry.
