Galaxy Digital · New York · The Block
Galaxy scores New York BitLicense to offer digital asset services in the state
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Galaxy Digital said Monday that the New York State Department of Financial Services granted the firm a BitLicense and Money Transmission License, allowing it to offer digital asset services across the Empire State.
Key facts
- Galaxy Digital said Monday that the New York State Department of Financial Services granted the firm a BitLicense and Money Transmission License, allowing it to offer digital asset services
- Galaxy said the approval adds to its regulatory footprint of more than 50 licenses globally
- The approval specifically applies to GalaxyOne Prime NY, the Galaxy subsidiary that will provide trading and custody services to New York residents, institutions, and businesses
- 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 founder and CEO Mike Novogratz said
Summary
The approval specifically applies to GalaxyOne Prime NY, the Galaxy subsidiary that will provide trading and custody services to New York residents, institutions, and businesses. "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 founder and CEO Mike Novogratz said in a statement. Galaxy said the approval adds to its regulatory footprint of more than 50 licenses globally. Galaxy (GLXY) is the second company this year to receive a BitLicense after Strike, the bitcoin payments firm founded by Jack Mallers, secured approval in March.