Galaxy Digital Stock Rises After Launch of GalaxyOne Trading Platform

MIAMI, Florida – Galaxy Digital (GLXY) announced the launch of its new trading platform, GalaxyOne, on Monday, aiming to offer a competitive alternative to established players like Robinhood and eToro. The platform integrates a 4% cash account, crypto custody, and zero-commission trading for U.S. equities and ETFs.

GalaxyOne is designed for user-friendly experiences on both Android and iOS devices. U.S. users who meet know-your-customer (KYC) requirements can trade popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) while enjoying access to more than 2,000 U.S. stocks and ETFs with no commission fees.

CEO Mike Novogratz emphasized that the launch aligns with Galaxy’s strategy to expand its services into a comprehensive financial provider. “We aim to deliver regulated and accessible products across all market segments,” he said.

The GalaxyOne platform was developed following Galaxy Digital’s acquisition of the retail-focused financial app Fierce, which cost the company $12.5 million, as revealed in their fourth-quarter filing with the Securities and Exchange Commission (SEC).

Galaxy Digital’s stock has seen impressive gains, more than doubling in value this year and increasing by over 185% in the last 12 months. The current trajectory has put it on track to reach its highest level since October 2008.

As part of its strategy, GalaxyOne includes a “premium” yield for accredited investors, offering up to 8% Annualized Percentage Yield (APY). The platform positions itself as a major player in a market largely dominated by other firms, hoping to attract a diverse range of investors.

Galaxy Digital also faces significant competition from other exchanges, including Kraken and Coinbase, which continue to innovate and expand their services. This competitive pressure suggests that GalaxyOne will need to adapt quickly to maintain its market position.

“We think there’s a really interesting opportunity and a compelling product set that we can build for that ‘accredited investor’ profile,” said Zac Prince, Managing Director at Galaxy. The company plans to gradually enhance its offerings and expand its assets and functionalities.

The demand for retail investment options continues to grow, indicating that platforms like GalaxyOne could significantly impact the financial services landscape.