Galaxy Digital Receives NY Digital Asset Service License
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 18 2026
0mins
Source: seekingalpha
- License Approval: Galaxy Digital's subsidiary, GalaxyOne Prime NY, has received a BitLicense and money transmission license from the New York State Department of Financial Services, enabling it to offer a full suite of trading and custody services to institutional clients such as registered investment advisors, hedge funds, and family offices.
- Market Access: The acquisition of this license signifies Galaxy Digital's critical position in the largest institutional capital market in the U.S., allowing it to better meet the growing demand for digital assets among institutional clients and drive business growth.
- CEO Commentary: CEO Mike Novogratz stated that 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, indicating a growing recognition of digital assets in the market.
- Stock Price Movement: Despite the license approval, Galaxy Digital's shares fell by 2.36% to $28.91 during pre-market trading on Monday, reflecting a cautious market reaction to the news.
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Analyst Views on GLXY
Wall Street analysts forecast GLXY stock price to rise
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 30.130
Low
24.00
Averages
43.89
High
60.00
Current: 30.130
Low
24.00
Averages
43.89
High
60.00
About GLXY
Galaxy Digital Inc. is engaged in the business of digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence (AI). The Company's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, it develops and operates data center infrastructure to power AI and high-performance computing workloads. The Company's segments include Digital Assets, Data Centers, and Treasury and Corporate. Its Digital Assets operating business segment provides new products and capabilities such as staking, margin-based financing and active exchange-traded funds. The Data Centers segment comprises the Helios infrastructure assets. The Company's Data Centers segment develops and operates High Performance Computing (HPC) infrastructure to meet the growing demand for large-scale, power-ready facilities in the AI/HPC industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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