Galaxy Digital Receives New York BitLicense for Institutional Crypto Services
Galaxy Digital obtained a BitLicense and money transmitter license from New York regulators on May 18, 2026. The approval allows the firm to offer regulated digital asset trading and custody to institutions in the state.
CoinDeskGalaxy Digital received a BitLicense and money transmitter license from the New York State Department of Financial Services on May 18, 2026. The licenses authorize GalaxyOne Prime NY to provide crypto trading and custody services to New York-based institutions including hedge funds, registered investment advisers, and family offices.
The company said its platform manages about $9 billion in client assets.
BitLicense framework, established in 2015, requires capital reserves, compliance programs, cybersecurity reviews, and ongoing oversight. Galaxy becomes the second company to receive a BitLicense in 2026 after Strike obtained approval in March.
“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 Mike Novogratz, Galaxy’s founder and CEO. Galaxy holds more than 50 licenses worldwide and has expanded its focus to institutional trading, custody, and infrastructure supporting both digital assets and artificial intelligence data centers.
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