TL;DR
- Retail debut: Galaxy Digital, led by Mike Novogratz, has launched GalaxyOne, a consumer-focused platform merging crypto trading, stock brokerage, and savings products, aiming to rival Robinhood and Kraken.
- Yield options: The platform offers Galaxy Premium Yield with 8% APY for accredited investors, though not FDIC insured, alongside GalaxyOne Cash, a 4% APY FDIC-backed savings account via Cross River Bank.
- Trading features: GalaxyOne supports Bitcoin, Ethereum, Solana, Paxos Gold, and over 2,000 U.S. stocks and ETFs commission-free, including fractional shares and asset transfers.
Mike Novogratz’s Galaxy Digital has launched GalaxyOne, officially marking its debut into the retail arena. The recently unveiled platform combines crypto trading, stock brokerage, and high-yield savings products, competing directly with big players like Robinhood and Kraken. GalaxyOne’s mission is to close the gap between Wall Street sophistication and Main Street accessibility through a user-friendly mobile app and a focus on accredited investors.
Expanding Beyond Institutions
For years, Galaxy Digital catered primarily to financial institutions, but GalaxyOne marks a strategic pivot. Founder and CEO Mike Novogratz emphasized that the company is now extending its institutional-grade infrastructure to individuals. The platform was built on the foundation of Fierce, a finance super-app Galaxy acquired in late 2024 for $12.5 million. By leveraging this acquisition, GalaxyOne enters the market with a ready-made team and technology stack designed for consumer use.
Dual Yield Opportunities
GalaxyOne has two different yield products to offer. Accredited investors can access Galaxy Premium Yield, an investment vehicle delivering 8% APY, powered by Galaxy’s institutional lending business; however, this product is not FDIC insured. For regular investors, GalaxyOne Cash offers a 4% APY savings account, backed by Cross River Bank. This product does support FDIC insurance and is a safer entry point. The dual approach will allow Galaxy to cater to a broader audience, serving cautious and yield-seeking investors.
Trading Across Assets
At launch, GalaxyOne supports trading in Bitcoin, Ethereum, Solana, and Paxos Gold, with plans to expand token offerings. Users can also trade over 2,000 U.S.-listed stocks and ETFs commission-free, including fractional shares. By combining crypto custody with traditional equities, GalaxyOne positions itself as a one-stop shop for diversified investing. The ability to transfer digital assets on and off the platform further enhances user flexibility.
Competing in a Crowded Market
GalaxyOne will compete directly with market titans like Robinhood, eToro, and Cash App. What sets Galaxy Digital’s offer apart is the fusion between institutional services and consumer-friendly features. Galaxy Digital’s goal with GalaxyOne is to capture a wide range of investors, offering high-yield products and commission-free stock trading.
