Galaxy Receives New York State License for Digital Asset Services
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 18 2026
0mins
Source: PRnewswire
- Regulatory Approval: Galaxy Digital Inc. has received a BitLicense and Money Transmission License from the New York State Department of Financial Services, allowing it to provide regulated digital asset services to institutions in New York, adding to its regulatory footprint of over 50 global licenses.
- Market Access Expansion: This license enables registered investment advisors, hedge funds, and family offices in New York to directly access Galaxy's full suite of trading and custody services, further solidifying the company's market position in the digital asset sector.
- Asset Management Scale: Galaxy's digital asset business currently manages $9 billion in client assets, and with the new license, it is expected to attract more institutional clients, driving revenue growth and increasing market share.
- Strategic Positioning Enhancement: Galaxy's founder and CEO, Mike Novogratz, stated that New York is home to the deepest pool of institutional capital in the country, and this expansion will better meet the region's demand for digital assets, further advancing the company's long-term strategic development.
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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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