Strike Receives New York Financial License, Officially Bringing Bitcoin Financial Services to Local Users

BlockBeats News, March 6, Bitcoin payment company Strike has obtained a BitLicense and a money transmitter license from the New York State Department of Financial Services (NYDFS), allowing it to operate in one of the most strictly regulated cryptocurrency markets in the United States — New York.

After obtaining the licenses, Strike can provide various services to individuals and businesses in New York, including buying and selling Bitcoin, automatically converting wages to Bitcoin, and using Bitcoin balance to pay water and electricity bills, credit card bills, and mortgages. The platform also supports features such as dollar-cost averaging purchases and price-triggered trades, and allows users to convert up to 100% of their wages directly to Bitcoin, with wage conversions of up to $20,000 per month fee-free.

Jack Mallers, Founder and CEO of Strike, stated that obtaining the BitLicense is a significant milestone for the company's development, allowing it to bring Bitcoin financial services to the global financial hub of New York.

In addition, Strike plans to launch a Bitcoin-backed loan service in the future, allowing users to borrow fiat currency while holding Bitcoin. The company emphasized that users' Bitcoin and cash assets on the platform are held in a 1:1 ratio and will not be used for lending or company operations. After obtaining the licenses, Strike will be subject to ongoing supervision by NYDFS, including capital reserve requirements, network security reviews, and regular audits.