Galaxy Digital Wins Major Money Transmitter License in New York
BeInCrypto
Galaxy Digital has secured a BitLicense and Money Transmitter License, allowing the firm to provide regulated crypto services to New York institutional clients.Summary
Galaxy Digital has been granted a BitLicense and Money Transmitter License by the New York State Department of Financial Services. This authorization allows its entity, GalaxyOne Prime NY, to provide regulated trading and custody services directly to institutional clients like hedge funds and family offices. While the licensing process is rigorous and costly, this achievement positions Galaxy Digital among an elite group of regulated firms, potentially accelerating institutional crypto adoption in the state.
(Source：BeInCrypto)