Galaxy Secures New York BitLicense, Will Offer Digital Asset Services Locally

Odaily Planet Daily reported that Galaxy Digital has announced receiving a BitLicense and money transmitter license from the New York State Department of Financial Services, allowing it to offer digital asset services in New York State.

These licenses apply to its subsidiary, GalaxyOne Prime NY, which will provide trading and custody services to New York residents, institutions, and businesses.

Galaxy stated that New York boasts the deepest pool of institutional capital in the United States, and digital assets are gradually entering mainstream allocation ranges. With this approval, the company will be able to serve institutional clients in New York more directly.