TL;DR:
Strike, the Bitcoin financial services company founded by Jack Mallers, announced that it received a BitLicense and a money transmitter license (MTL) from the New York State Department of Financial Services (NYDFS). The approvals were granted in February under the legal name Zap Solutions, Inc., allowing the company to offer its Bitcoin services platform to individuals and businesses throughout the state.
With this authorization, New York residents will be able to buy and sell Bitcoin, schedule recurring or target-price purchases, convert up to 100% of their directly deposited salary into Bitcoin with no conversion fees on amounts up to $20,000 per month, pay bills with BTC and withdraw funds to self-custody wallets at no additional cost.
The BitLicense is considered one of the strictest regulatory frameworks in the sector in the United States. Companies operating under this scheme must maintain capital reserves, implement anti-money laundering controls and undergo periodic audits. The license allows Strike to offer services to New York residents, though it does not authorize those activities in other states, where independent MTLs are required.
Strike will join a select group of crypto companies that meet NYDFS requirements, among which are Coinbase, MoonPay, eToro, Robinhood and Circle. The New York regulator has an extensive history of disciplinary sanctions: in 2024, Genesis Global Trading surrendered its BitLicense and paid an $8 million fine after failures were detected in its cybersecurity and compliance programs.
Adrienne Harris, former NYDFS superintendent, noted in 2025 that the state plays a “disproportionate role” in the crypto ecosystem and that lawmakers frequently consult the regulator when drafting new digital asset legislation. The license granted to Strike reinforces New York’s role as a regulatory benchmark for companies seeking access to regulated markets in the United States.
