Galaxy secures New York BitLicense to expand institutional crypto services

The NYDFS approvals allow GalaxyOne Prime NY to offer trading and financing services to institutional investors in one of the most tightly regulated US crypto markets.

Galaxy Digital, a crypto-focused financial services company led by Mike Novogratz, has received a BitLicense and Money Transmission License from the New York State Department of Financial Services (NYDFS), allowing it to expand regulated digital asset services to institutional clients in the state.

The company said Monday that the approvals were granted to its subsidiary, GalaxyOne Prime NY, which provides trading and financing services to institutional investors.

The licenses extend Galaxy’s regulatory reach into New York, one of the most tightly regulated jurisdictions for cryptocurrency businesses in the United States.

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