Strike Gains NYDFS Approval to Offer Bitcoin Trading and Payments in New York
Highlights:
- Strike has gained NYDFS approval that allows the company to launch its Bitcoin services in New York.
- The customers can now buy and automate Bitcoin purchases through the Strike platform.
- Strike also lets users convert paychecks into Bitcoin and pay bills directly from their Bitcoin balance.
The New York State Department of Financial Services granted Strike a BitLicense and a money transmitter license. The approvals allow the company to offer Bitcoin services to residents and businesses in New York. Regulators granted the licenses in February. Strike later confirmed the development in a public announcement.
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🔓 Strike Secures Key NY Licenses for Bitcoin Services
Jack Mallers' Strike has obtained both a BitLicense and a money transmitter license from the New York Department of Financial Services (NYDFS). This regulatory approval allows the company to offer its Bitcoin brokerage,…
— Crynet (@crynetio) March 6, 2026
The licenses authorize Chicago-based Zap Solutions to provide digital currency services in the state. Zap Solutions operates the Bitcoin payments platform known as Strike. As a result, the company can now serve customers across one of the most tightly regulated crypto markets in the United States.
New York users can now buy and sell Bitcoin through the Strike platform. Customers can use linked bank accounts, debit cards, or wire transfers to complete transactions. In addition, the platform supports recurring Bitcoin purchases at scheduled intervals. Users can also set price-triggered orders that execute automatically.
Strike also allows users to convert direct-deposit wages into Bitcoin. Workers can convert part or all of their paychecks through the platform. The company waives conversion fees on deposits up to $20,000 each month. This feature allows users to allocate income to Bitcoin automatically. Strike stated that it keeps customer Bitcoin and cash balances fully backed. The company holds balances on a one-to-one basis and does not lend them for company operations.
Strike has been granted a BitLicense by the New York Department of Financial Services.
New York, we're open for business. pic.twitter.com/YzLqEMHTiy
— Strike (@Strike) March 5, 2026
Compliance Requirements and Market Access Under New York’s Crypto Framework
The BitLicense framework was proposed in 2015 in New York to regulate businesses that handle digital assets. This system is still among the most rigorous crypto regulatory frameworks in the United States. Regulators require companies to fulfill stringent compliance criteria before they can be permitted to do business.
Firms must maintain anti-money laundering programs and strong cybersecurity systems. In addition, companies must keep capital reserves to protect customer assets. Regulators also require ongoing supervision and periodic examinations.
The New York State Department of Financial Services undertakes compliance reviews and audits. Firms are required to submit regular security reports and operational details. There are also risk management practices and cybersecurity procedures that regulators review.
Several major digital asset firms already hold licenses under the same framework. Approved companies include Coinbase, Circle, Robinhood, MoonPay, and eToro. Anchorage Digital and Bullish also operate with New York approvals.
When firms do not adhere to these standards, regulators impose strict conditions. For instance, Genesis Global Trading forfeited its BitLicense two years ago. The company paid an $8 million penalty to regulators.
Strike Gains NYDFS Approval as Expansion Plans Extend Beyond Payments
Strike gained NYDFS approval, which allows the company to complete its rollout across all fifty states. The founder, Jack Mallers, created Strike to build financial services on the Bitcoin network. Mallers previously led the Lightning-focused startup Zap. He later launched Strike as a consumer platform built around Bitcoin payments.
Mallers addressed the approval in a company statement after the announcement, “Receiving our BitLicense is a defining milestone for Strike. With our BitLicense, we can now bring that mission to New York, the global center of finance. We look forward to serving New Yorkers with secure, open, and Bitcoin-native financial services.”
Strike also plans to expand its financial products beyond payments. The company outlined plans for bitcoin-backed lending services last year. The product would allow users to borrow fiat currency while continuing to hold their Bitcoin.
Strike also intends to diversify its financial products beyond payments. The firm described Bitcoin-backed lending services strategies last year. The product would enable customers to take a loan in fiat currency without selling their Bitcoin.
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Austin Mwendia
Austin Mwendia is a passionate crypto journalist with three years of experience. He has contributed to various media outlets, covering blockchain technology, market analysis, and financial trends. He is committed to educating readers and expanding the adoption of blockchain and decentralized finance.
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