Galaxy Digital Secures New York BitLicense for Institutional Crypto Services
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 18 2026
0mins
Source: stocktwits
- Regulatory Approval: Galaxy Digital announced that its subsidiary GalaxyOne Prime NY has obtained the BitLicense and Money Transmitter License from the New York State Department of Financial Services, enabling it to offer compliant crypto trading and custody services to local institutional clients, marking a significant step in the firm's strategy to deepen its presence in the U.S. institutional crypto market.
- Market Reaction: Despite the licensing achievement, Galaxy's stock price fell over 5% during morning trading, reflecting broader weakness in both the equity and cryptocurrency markets, indicating investor caution regarding the company's future performance.
- Enhanced Industry Position: The new licenses bring Galaxy's total number of global compliance licenses to over 50, further solidifying its status as a core institutional cryptocurrency infrastructure service provider, alongside other licensed firms such as Coinbase, Robinhood, and PayPal.
- Asset Management Scale: Currently managing $9 billion in client assets, the acquisition of the BitLicense allows Galaxy to provide its full suite of trading and custody services to all registered investment advisors, hedge funds, and family offices, thereby enhancing its competitive edge in the market.
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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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