Galaxy Wins New York BitLicense for Institutional Crypto Services
Cointelegraph
Galaxy Digital has secured a New York BitLicense and Money Transmission License to provide regulated crypto services to institutional clients.Summary
Galaxy Digital, led by Mike Novogratz, has received a BitLicense and Money Transmission License from the New York State Department of Financial Services (NYDFS) for its subsidiary, GalaxyOne Prime NY. These licenses allow the firm to offer trading and financing services to institutional investors in New York, a major capital hub. The BitLicense is known for its rigorous compliance requirements, including anti-money laundering and cybersecurity protocols. Despite reporting a $216 million loss in the first quarter, Galaxy is shifting its strategy toward growth, particularly through its Helios Data Center and expansion into artificial intelligence and high-performance computing infrastructure.
(Source：Cointelegraph)