Galaxy Digital applies to establish a national trust bank, Galaxy National Bank

Odaily reports: Galaxy Digital announced that its subsidiary Galaxy Digital LP has filed an application with the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank headquartered in New York, to be named Galaxy National Bank. If approved, the bank will operate under OCC supervision, providing digital asset custody, trading, staking, and fiduciary investment advisory services to clients nationwide. Galaxy founder and CEO Mike Novogratz stated that a national trust charter would help bring more of its business under a unified federal framework and expand client services. Galaxy said it currently holds more than 50 licenses and regulatory approvals across the United States, Europe, and Asia, including SEC-registered broker-dealer status, CFTC-registered swap dealer status, and recently obtained New York State BitLicense and money transmission licenses; the application remains pending OCC approval.