Galaxy Digital (NASDAQ: $GLXY) has received a New York BitLicense that allows the cryptocurrency financial services firm to expand its offerings to institutional clients.
The license was issued by the New York State Department of Financial Services and authorizes Galaxy Digital to offer regulated crypto trading and custody services across the state, including in New York City, America’s financial centre.
Galaxy said in a news release that the license gives institutions such as hedge funds and family offices access to its digital asset platform that currently manages $9 billion U.S. in assets.
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“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,” said Galaxy CEO Mike Novogratz.
Galaxy Digital is the second crypto firm to receive a BitLicense in 2026 after Bitcoin (CRYPTO: $BTC) payments firm Strike secured approval in March.
New York’s BitLicense framework remains one of the strictest cryptocurrency regulations in America.
Companies operating under the license are subject to capital requirements, compliance standards, cybersecurity reviews, and ongoing regulatory oversight.
GLXY stock has risen 16% over the past 12 months to trade at $27.37 U.S. per share.
