Galaxy Digital Inc., a digital assets and data center infrastructure company, announced that its subsidiary, Galaxy Digital LP, has applied to the Office of the Comptroller of the Currency (OCC) to establish Galaxy National Bank in New York.
If approved, the Galaxy National Bank would provide digital asset custody, trading and staking, alongside fiduciary investment advisory services. The bank would serve clients nationwide under a single federal framework.
Digital assets are becoming an increasingly important part of the global financial system, and Galaxy has spent years building the capabilities to support that transition. A national trust charter would be an important next step, allowing us to bring more of our services under a single federal framework and expand how we serve clients as adoption accelerates, said Mike Novogratz, Founder and CEO of Galaxy.
On February 27, 2026, the OCC clarified in a rule that national trust banks can conduct related non-fiduciary activities alongside fiduciary business. The rule took effect April 1 without changing the agency’s chartering authority.
Important Read: NYSE owner ICE plans U.S. Hyperliquid futures market with Trade.xyz
Building on existing licenses
The application that remains subject to OCC approval builds on more than 50 licenses Galaxy holds across the U.S., Europe, and Asia.
The company announced on May 18 that New York regulators had granted Galaxy One Prime NY a BitLicense and Money Transmission License, which allowed it to provide institutional trading and custody services in the state.
Galaxy said that the New York authorization covers institutional clients such as registered investment advisers, hedge funds, and family offices.
The approval for the proposed bank remains pending. Galaxy flagged potential conditions covering capital, liquidity, governance, risk management, and compliance in its announcement.
Sign up on WEEX and roll for a chance to win a share of the $1,000,000 prize pool.
