Strike Secures New York BitLicense and Launches Bitcoin-Backed Credit Line
With BitLicense and money transmitter approval from New York State, Strike can offer Bitcoin trading, payroll-to-Bitcoin conversions, bill payments, and plans for regulated Bitcoin-backed lending.
BTC
Summary
Strike has received a BitLicense and money transmission license from the New York State Department of Financial Services, allowing the company to provide Bitcoin trading, payroll conversion, and bill payment services to individuals and businesses in New York. Customer balances are held one-to-one and not lent out. CEO Jack Mallers emphasized the licenses as a key milestone, supporting future plans for Bitcoin-backed lending while operating under strict regulatory oversight.
Terms & Concepts
- BitLicense: A regulatory license issued by the New York Department of Financial Services permitting cryptocurrency companies to operate in the state.
- Money Transmission License: A license allowing a company to legally transmit money and offer payment services within a regulated jurisdiction.