Strike received a BitLicense and money transmitter license from the New York State Department of Financial Services, clearing the way for the bitcoin BTC$70,109.57 financial services firm to operate in the state.

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

Strike’s entry into New York is part of its expansion plans outlined in November 2025, when Mallers said his platform would add bitcoin-backed lending to allow users to borrow fiat currency while continuing to hold their bitcoin. The move would place Strike in a sector that saw several high-profile failures in 2022, when lenders including BlockFi, Celsius and Genesis filed for bankruptcy during the crypto market downturn.

The approval, announced Thursday, allows Strike to offer its products to individuals and businesses across New York, one of the most tightly regulated digital asset markets in the U.S. The company can now provide services that include buying and selling bitcoin, salary deposits converted into bitcoin and bill payments made from a bitcoin balance.

Strike can also offer tools such as recurring purchases and price-triggered orders that execute trades when bitcoin reaches a set level. Users can also convert up to 100% of direct-deposited wages into bitcoin, with conversion fees waived on deposits up to $20,000 each month.

Strike said customer bitcoin and cash balances remain held one-to-one and are not lent or used for company operations.

The license places the company under the New York State Department of Financial Services’ supervision, which includes audits, capital reserve rules and cybersecurity examinations.