Jack Mallers’ Strike clears MiCA hurdle as Binance leads Europe exit

Strike now has permanent access to all 27 member states under the European Union’s Markets in Crypto-Assets Regulation, according to a statement by the firm earlier today, one day before the cutoff for firms that have not cleared the licensing hurdle.

Binance, on the other hand, is one of many exchanges that must now restrict their services across Europe after failing to obtain the same license.

Strike in, Binance out 

Strike, a Bitcoin financial services company, has received full authorization to offer its Bitcoin services to millions of European customers across the continent under the European Union’s Markets in Crypto-Assets Regulation (MiCA). It got its approval through the Malta Financial Services Authority (MFSA).

Strike had been serving eligible European customers since April 2024 under national-level registrations, but the MiCA authorization grants access to all 27 EU member states with just one approval. Strike is one of the few firms that has completed the full MiCA authorization process so far.

Meanwhile, Binance applied for its MiCA license through Greece, and later withdrew its application after the regulators failed to approve it before the July 1 deadline. The company has stated that it will seek authorization through another member state.

French authorities are still investigating alleged money laundering offenses connected to Binance, which may have had an effect on the outcome of its licensing application. It does not help that former CEO Changpeng Zhao pleaded guilty to violating U.S. anti-money-laundering laws in 2023 and served four months in prison the following year.

Does Strike serve the same customers as Binance?

Strike offers Bitcoin-only services, including buying and selling, fee-free recurring purchases, and free on-chain withdrawals. It also provides private client services for high-net-worth individuals and business accounts for corporate treasury operations and payments.

Binance, on the other hand, is preparing to restrict its digital asset exchange services in France, Italy, Poland, and Spain starting July 1. New spot orders, deposits, and account registrations will stop for affected users. The exchange has assured customers that withdrawals will remain available and their assets remain safe.

Customers withdrew an estimated $400 million to $440 million in assets in the week following the Greece rejection, though this represented only about 0.3% of Binance’s tracked assets of $133.3 billion. The company has said it will pursue MiCA authorization in another member state.

Beyond its new EU license, Strike founder and CEO Jack Mallers recently announced a $2.1 billion credit facility for the company’s Bitcoin-backed lending business, which was developed in partnership with Tether.

Notably, Bitcoin-backed lending has outperformed every other product Strike has launched. Mallers estimated the total centralized-finance Bitcoin lending market at $20 billion to $30 billion against a $1.25 trillion asset class.

A separate proposal from Tether Investments would merge Strike with Twenty One Capital and Bitcoin miner Elektron Energy. Mallers said at the Bitcoin 2026 Conference in April that he supports the plan.