Strike Secures New York BitLicense, Officially Bringing Bitcoin Financial Services to Local Users

On March 6, Bitcoin payments firm Strike secured a BitLicense and money transmitter license from the New York State Department of Financial Services (NYDFS), enabling it to operate in New York—one of the most heavily regulated crypto markets in the U.S. With the licenses in hand, Strike can now offer a range of services to individuals and businesses in New York, including buying and selling Bitcoin, auto-converting wages to Bitcoin, and using Bitcoin balances to pay utility bills, credit card bills, and mortgages. The platform also supports dollar-cost averaging and price-triggered trading, and lets users convert up to 100% of their wages directly to Bitcoin—with no conversion fees on monthly wage amounts up to $20,000. Strike founder and CEO Jack Mallers noted that securing the BitLicense is a major milestone for the company, enabling it to bring Bitcoin financial services to New York—a global financial hub. Additionally, Strike plans to launch a Bitcoin-backed lending service down the line, letting users borrow fiat currency while holding their Bitcoin. The firm stresses that users’ Bitcoin and cash assets on the platform are held at a 1:1 ratio and will not be used for lending or company operations. With the licenses, Strike will be subject to ongoing NYDFS oversight, including capital reserve requirements, network security reviews, and regular audits.