Mike Novogratz’s Galaxy Secures New York BitLicense for Institutional Crypto Push

New York has required cryptocurrency businesses to hold a BitLicense since 2015, subjecting them to capital, anti-money-laundering, cybersecurity and ongoing regulatory standards. Galaxy Digital, founded by Mike Novogratz and focused on institutional trading and custody, can now directly enter New York, the largest U.S. hub for institutional capital.

The New York State Department of Financial Services granted GalaxyOne Prime NY a BitLicense and money transmitter license on May 18, 2026, allowing it to serve hedge funds, registered investment advisers and family offices. Galaxy manages about $9 billion in client assets and holds more than 50 licenses globally. It became the second company to receive the license this year, following Strike’s approval in March.