The approvals authorize Strike, operated by Chicago-based Zap Solutions, to provide services including bitcoin brokerage, recurring purchases, direct-deposit conversion to bitcoin, and bill payments funded with BTC, according to a March 5 announcement.

New York’s BitLicense regime, introduced by the NYDFS in 2015, is widely regarded as one of the most stringent regulatory frameworks for cryptocurrency companies in the United States.

Firms seeking to operate in the state must meet extensive requirements around anti-money laundering controls, cybersecurity standards, capital reserves, and ongoing regulatory oversight to win the regulatory nod.

Because companies generally cannot serve New York residents without a BitLicense or an equivalent trust charter, the approval opens the door for Strike to operate in one of the country’s largest financial markets. It also completes Strike's rollout across all 50 U.S. states, alongside multiple international markets.

"Receiving our BitLicense is a defining milestone for Strike," founder and CEO Jack Mallers said in a statement. "With our BitLicense, we can now bring that mission to New York, the global center of finance."

Strike allows users to buy and sell bitcoin through linked bank accounts, debit cards, or wire transfers and offers features such as automated recurring purchases and price-triggered orders. The company also allows customers to convert portions of their direct-deposited paychecks into bitcoin and to pay bills directly from bitcoin balances.

The firm said all bitcoin and cash balances are held 1:1 and are not lent out or used for corporate operations. As a regulated custodian under the NYDFS framework, Strike will also be subject to periodic audits, capital requirements, and cybersecurity examinations.

Mallers, a longtime bitcoin advocate, founded Strike as part of his broader vision to build payment infrastructure on the Bitcoin network. He previously led the Lightning-focused payments startup Zap, which later launched Strike as its consumer-facing Bitcoin financial services platform.

Strike now joins a relatively small group of companies approved to operate under New York’s crypto licensing regime. In recent years, the NYDFS has granted BitLicenses to crypto firms, including Anchorage Digital, MoonPay, and the Peter Thiel-backed crypto exchange operator Bullish.

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