Crypto: Jack Mallers’ Strike Secures New York Crypto And Money Licenses
New York users gain access to Strike’s Bitcoin brokerage, recurring buys and paycheck-to-Bitcoin services after the NYDFS licensing approvals.
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.
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.
