Galaxy Digital has launched GalaxyOne, a new financial app that will allow individual investors in the United States to trade cryptocurrencies, U.S. equities, and cash, and tap into yields of 4%–8%.
Summary
- Galaxy Digital has launched GalaxyOne, an app that lets retail investors trade crypto, stocks with 4%-8% yield.
- The new GalaxyOne platform is for U.S.-based investors.
- Robinhood is among top trading apps also aggressively expanding in the U.S.
The GalaxyOne platform, available on mobile and via web, will offer a single platform through which retail investors can access annual percentage yield on their cash, crypto, and equity of U.S.-listed companies.
App users can earn 4% APY, Galaxy said in a press release, with the option to auto-reinvest earnings into Bitcoin (BTC) and Ethereum (ETH) among other cryptocurrencies. The app also allows accredited investors to high-yield accounts with 8% APY, where Galaxy Premium Yield investors will have interest accrue daily, and paid to their accounts every month.
“We’ve spent years building institutional-quality infrastructure to serve the world’s most sophisticated investors. Now, we’re extending that edge to individuals,” said Mike Novogratz, founder and chief executive officer of Galaxy. “Importantly, GalaxyOne advances our mission of becoming a full-spectrum financial services provider that builds trusted, regulated, and accessible products for all market segments.”
Notably, both the 4% and 8% rates are powered by Galaxy’s institutional lending business, launched in 2018.
Galaxy Digital eyes U.S market
Other than crypto trading and U.S. equities, GalaxyOne offers exchange-traded funds.
Importantly, this rollout aligns with a major shift across the ecosystem. That’s because crypto companies that in the past few years stayed away from the U.S. amid regulatory issues are increasingly looking to get further traction with expansion in the country.
“As technology reshapes how people invest, expectations are clear: more yield, easier access from a single platform, and opportunities that extend beyond traditional boundaries,” said Zac Prince, managing director at Galaxy.
One of the top platforms taking advantage of the crypto-friendly U.S. regulatory regime is Robinhood.
The popular trading app has launched key products for the American market and has seen notable growth despite the dominance of crypto behemoth Coinbase. Robinhood’s launch of crypto services, including staking and margin trading, is one of the top milestones in the past several months.
Bullish also recently expanded into the U.S. market.
