The crypto financial services firm Galaxy Digital, led by Mike Novogratz, received the prestigious BitLicense and a Money Transmitter License from the New York State Department of Financial Services (NYDFS). The announcement, made this Monday by its subsidiary GalaxyOne Prime NY, formally authorizes the company to offer its regulated digital asset custody and trading services directly to clients in the state.
This regulatory milestone allows registered investment advisors, hedge funds, and family offices in New York to directly access the firm’s institutional infrastructure, which already manages $9 billion in assets. According to Novogratz, digital assets have moved away from the fringes of traditional capital allocations, making way for the largest pool of institutional wealth in the United States.
With this approval, Galaxy Digital expands its robust global footprint, adding more than 50 international licenses. The company’s next strategic step will focus on the immediate integration of Wall Street institutional capital into its ecosystem of regulated crypto products and services.
Source: https://goo.su/vBbS
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