Galaxy Digital Clears Regulatory Hurdle in New York

Galaxy Digital (@galaxyhq) has secured a BitLicense and Money Transmitter License from the New York State Department of Financial Services (@NYDFS), authorizing the company to offer regulated digital asset services to institutions across the state. The approval, announced on May 18, 2026, was granted to GalaxyOne Prime NY, the dedicated entity set up to serve New York-based clients.

The BitLicense is one of the most difficult-to-obtain state-level cryptocurrency licenses in the United States. Since its framework launched in 2015, only around 40 companies have been approved to hold it. With this approval, Galaxy joins a select group of firms that hold the license, including Circle, Coinbase, Robinhood, and PayPal.

New York Opens the Door to $9 Billion Platform

New York now joins Galaxy's regulatory footprint of more than 50 global licenses, and institutions in the state, including registered investment advisors, hedge funds, and family offices, can access Galaxy's full suite of trading and custody services, backed by a digital asset business managing $9 billion in client assets.

CEO Mike Novogratz pointed to New York's significance for the firm's growth ambitions. "New York is home to the deepest pool of institutional capital in the country," he said, adding that digital assets are "no longer sitting at the edge of those allocations."

Galaxy is also expanding its partnerships across Wall Street and provides staking infrastructure for BlackRock's iShares Staked Ethereum Trust ETF (ETHB), cementing its position as a core institutional crypto infrastructure provider.

The New York license marks a significant step in Galaxy's broader push to deepen its presence in the U.S. institutional market, where demand for regulated digital asset services continues to grow.

Sources:
Galaxy Digital Official Press Release via PR Newswire
Yahoo Finance: Galaxy Digital Secures New York BitLicense