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Galaxy Digital (NASDAQ: GLXY) has secured regulatory approval to operate directly in New York, giving the crypto financial services giant access to one of the world’s largest pools of institutional capital.
What's the Scoop?
- Newly Licensed: The New York State Department of Financial Services (NYDFS) has granted GalaxyOne Prime NY – a wholly owned subsidiary of Galaxy Digital – a BitLicense and Money Transmission License, allowing the firm to offer regulated crypto and digital assets services throughout the State of New York. The approval will enable registered investment advisors, hedge funds, and family offices in the registered in New York to utilize Galaxy’s suite of digital asset trading and custody products.
- Fresh Opportunities: In a statement about the BitLicense, Galaxy CEO
Mike Novogratz said, "New York is home to the deepest pool of institutional capital in the country, and digital assets are no longer sitting at the edge of those allocations. Galaxy was built to meet that demand, and now we can better serve New York's institutions directly." - Global Reach: With its latest regulatory approval secured from NYDFS, Galaxy now operates under more than 50 licenses worldwide as it continues expanding its $9B institutional crypto asset business.
Galaxy was built in New York.
— Mike Novogratz (@novogratz) May 18, 2026
As of today, we're licensed by @NYDFS to serve institutional clients across the state — the deepest pool of capital in the country, and one where digital assets are no longer sitting at the edge of allocations. https://t.co/6Or9Z0zGuL
