Galaxy Digital Wins New York BitLicense And Money Transmission License For Institutional Crypto Services

Galaxy Digital secured a BitLicense and a Money Transmission License from the New York State Department of Financial Services, with the approvals granted to its subsidiary GalaxyOne Prime NY to offer regulated digital asset trading and custody services in New York.

“Galaxy Digital Holdings Ltd”

Benzinga

The New York approvals were described as giving Galaxy direct access to institutional investors in the “largest U.S. financial market,” and the company said the licenses allow it to serve residents, institutions, and businesses in the state.

Benzinga

Mike Novogratz said the move helps Galaxy “directly serve institutional investors in the largest U.S. financial market,” while other coverage tied the milestone to New York’s status as a tightly regulated jurisdiction for cryptocurrency businesses.

One report said the BitLicense was granted on May 18, 2026, and another said the approvals were granted to expand Galaxy’s regulated digital asset services to institutional clients in the state.

Novogratz framed New York as the core of institutional demand, saying, “New York is home to the deepest pool of institutional capital in the country,” and that digital assets were “no longer sitting at the edge of those allocations.”

The BitLicense was described as introduced by NYDFS in 2015 and as requiring extensive compliance controls covering anti-money laundering programs, know-your-customer procedures, cybersecurity protocols, consumer protections, capital requirements, and regular NYDFS examinations.

Bitcoin News

Coverage also linked the license to a broader regulatory footprint, with one report saying the approval expands Galaxy’s global regulatory profile to more than 50 licenses worldwide.

Another outlet said the BitLicense is one of the most difficult state-level approvals in the U.S., and that it is considered a regulatory filter because only a limited number of firms secure a BitLicense each year.

The NYDFS approvals were positioned as enabling GalaxyOne Prime NY to provide trading and custody services to registered investment advisors, hedge funds, and family offices across New York State.

“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”

Cointelegraph

Galaxy’s client assets figure also appeared in the coverage, with one report saying Galaxy manages $9 billion in client assets across its digital asset business, and another saying the licenses would give New York-based institutions direct access to Galaxy’s full suite of trading and custody services.

The stakes were also framed through policy timing, with Benzinga citing an aggressive CLARITY Act timeline and saying Senate Majority Leader John Thune (R-SD) must allocate roughly a full week of Senate floor time for debate.

In parallel, coverage tied the regulatory milestone to Galaxy’s broader strategy and infrastructure, including references to its Helios data center campus in Texas and its positioning as it expands beyond trading into data center infrastructure for artificial intelligence and high-performance computing workloads.