Strike Receives BitLicense, Money Transmitter Approval in New York

Payments company Strike received a virtual currency license and a money transmitter license (MTL) from the New York State Department of Financial Services (NYDFS), allowing the company to offer its Bitcoin services to residents and businesses in New York.

Granted in February, the approvals authorize Zap Solutions, Inc., which does business as Strike, to operate under New York’s digital asset regulatory framework, the company said in a Thursday release.

New York residents can now use Strike to buy and sell Bitcoin (BTC), set recurring or price-targeted purchases and convert direct-deposited paychecks into Bitcoin. The platform also allows users to pay bills from Bitcoin balances and withdraw funds to self-custody wallets.

“Receiving our BitLicense is a defining milestone for Strike,” founder and CEO Jack Mallers said in a statement, adding that the approval allows the company to expand its Bitcoin-based financial services in a major financial market.

A BitLicense allows companies to conduct digital currency business with New York residents, but does not by itself authorize nationwide operations.

Companies looking to operate across the US must typically obtain MTLs in other states as well.

Related: MoonPay to operate in all 50 US states after NY BitLicense approval

The framework requires companies to maintain capital reserves, implement Anti-Money Laundering (AML) controls and undergo regular regulatory examinations.

NY approvals remain a key step for US crypto companies

The approvals are another step in Strike’s US expansion, with New York’s stringent licensing framework often serving as a benchmark for crypto companies seeking regulated market access.

Others holding BitLicenses in New York include MoonPay, Coinbase, eToro, Robinhood and Circle, according to NYDFS records.

New York regulators have also taken enforcement action against license holders. In 2024, Genesis Global Trading agreed to surrender its BitLicense and pay an $8 million penalty to the regulator after investigators found failures in its AML and cybersecurity programs.

In 2025, Adrienne Harris, former superintendent of the New York State Department of Financial Services, said the state has an “outsized role to play” in the crypto ecosystem and that lawmakers frequently consult the regulator when drafting digital asset legislation.

Magazine: What’s a ‘Network State’ and are there real-life examples? Big Questions