Strike Secures NY BitLicense for Bitcoin Payments
The payment app Strike has officially secured a BitLicense in New York, a notoriously difficult state for crypto companies to operate in. The move unlocks new avenues for Bitcoin-based payments and custody services in a major financial market. This regulatory approval signals a potential thawing of relations between crypto infrastructure providers and U.S. regulators.
Strike's approval comes after a lengthy and notoriously difficult process established by the New York Department of Financial Services (NYDFS) in 2015. The BitLicense is considered one of the most stringent regulatory frameworks for crypto companies in the U.S., requiring extensive anti-money laundering controls, cybersecurity standards, and capital reserves. This move now completes Strike's availability across all 50 U.S. states. The company, operated by Chicago-based Zap Solutions, Inc., can now offer New York residents services like buying and selling bitcoin, recurring purchases, and converting direct-deposited paychecks into bitcoin. Users can also pay bills with their bitcoin balance and withdraw funds to self-custody wallets. All customer bitcoin and cash balances are held 1:1 and are not lent out for corporate operations. Strike's founder and CEO, Jack Mallers, is a vocal Bitcoin advocate who previously founded the Lightning-focused startup Zap. In late 2025, Mallers was publicly "debanked" by JPMorgan Chase, who closed his personal accounts citing "concerning activity," which fueled industry concerns about the targeting of crypto executives by traditional financial institutions. With the new licenses, Strike joins a select group of companies operating under the NYDFS crypto regime, including Anchorage Digital, MoonPay, and Bullish. This approval is a significant step for a company that raised $80 million in a Series B funding round in August 2022 to expand its payment services for merchants and consumers.
