Strike, a Bitcoin financial services firm founded by Jack Mallers, has received both a BitLicense and a money transmitter license from the New York State Department of Financial Services, allowing the company to operate in one of the most tightly regulated digital asset markets in the United States.
The approval allows Strike to offer its Bitcoin brokerage, payments, and custody services to individuals and businesses across New York.
The state’s regulatory framework requires firms to meet standards for capital reserves, cybersecurity, and operational transparency.
New York’s BitLicense regime has long served as a gatekeeper for digital asset companies seeking access to the state’s financial markets. Several crypto firms have opted not to pursue the license because of the compliance requirements and ongoing regulatory oversight.
Mallers described the license as a major step in the company’s effort to build a Bitcoin-focused financial platform.
“Receiving our BitLicense is a defining milestone for Strike,” Mallers said in a statement. “Strike is building the leading Bitcoin financial institution. With our BitLicense, we can now bring that mission to New York, the global center of finance.”
Strike’s bitcoin services
With the approval, New York users will gain access to Strike’s suite of Bitcoin services. The platform allows customers to buy and sell bitcoin through linked bank accounts, debit cards, or wire transfers.
Users can also directly deposit their paychecks and convert a portion, or all, of their wages into bitcoin.
The platform includes automated trading tools such as recurring purchases and price-triggered orders. Recurring buys allow customers to schedule bitcoin purchases on a set interval, while target orders execute trades when bitcoin reaches a specific price.
Strike also allows users to pay bills from a bitcoin balance, including utility payments, credit card balances, and mortgage bills. The feature reflects the company’s effort to position bitcoin as a tool for daily financial activity rather than only as an investment asset.
According to the company, customer bitcoin and cash balances are held one-to-one and are not lent or used for company operations. Strike said users can withdraw bitcoin to personal wallets at no cost, with the firm covering on-chain transaction fees.
The license also places Strike under the supervision of the New York State Department of Financial Services, which requires periodic audits, cybersecurity reviews, and capital reserve compliance.
Strike’s expansion into New York comes as the company outlines broader growth plans for its platform. In late 2025, Mallers said the firm intends to add bitcoin-backed lending, which would allow customers to borrow fiat currency while holding their bitcoin.