Galaxy Digital · New York · CoinDesk
Mike Novogratz’s Galaxy receives New York BitLicense for institutional crypto push
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Galaxy Digital said Monday that New York regulators granted the company a BitLicense and money transmitter license, allowing the crypto financial services firm to expand institutional digital asset operations in one of the industry’s most tightly regulated markets.
Key facts
- New York’s BitLicense framework, introduced in 2015, remains one of the strictest crypto regulatory regimes in the United States
- Galaxy said that the move gives New York-based institutions, including hedge funds, registered investment advisors and family offices, access to its digital asset platform, which the company said
- The approval from the New York State Department of Financial Services authorizes GalaxyOne Prime NY, the company’s New York entity, to offer regulated crypto trading and custody services
- Galaxy becomes the second company to receive a BitLicense in 2026 after bitcoin payments firm Strike secured approval from NYDFS in March
Summary
Galaxy Digital has received a BitLicense and money transmitter license from New York regulators, allowing it to expand its institutional crypto trading and custody services in the state. The approval lets GalaxyOne Prime NY offer regulated digital asset services to New York-based institutions, including hedge funds, registered investment advisers and family offices, on a platform managing about $9 billion in client assets. Galaxy is the second firm to secure a BitLicense in 2026, showing that New York’s strict crypto regime is still selectively admitting companies despite industry criticism of the framework’s cost and complexity.