Galaxy launches GalaxyOne platform offering crypto, stocks, and 8% yields to US users
Quick Take
- Galaxy Digital launched GalaxyOne, a unified platform and app offering crypto and stock trading to users in all U.S. states.
- Any user can also earn 4% APY in a high-yield savings account, while accredited investors can earn 8% APY on a note offered by Galaxy.
- Users will be able to buy, hold, and trade bitcoin, ether, Solana, and Paxos Gold at launch, with more tokens planned for the future.
Galaxy Digital on Monday rolled out GalaxyOne, a new consumer platform and app that combines a 4% cash account, crypto custody and trading, and zero-commission trading on U.S. equities and ETFs.
At launch, users across the U.S. who meet know-your-customer requirements will be able to buy, hold, and transfer bitcoin, ether, Solana, and Paxos Gold. A Galaxy spokesperson told The Block that the company plans to scale the platform to include more tokens in the future, and users are able to transfer digital assets on and off the platform at will. Users will also be able to trade more than 2,000 U.S. stocks and ETFs with zero-commission trading, including fractional share trading.
The platform also offers Galaxy Premium Yield, a high-income investment note offering 8% APY, but only to accredited U.S. investors who meet income or net worth eligibility requirements. The yield is powered by Galaxy's institutional lending business, and unlike the 4% cash account, is not FDIC insured.
The launch of the platform marks a significant foray by Galaxy, traditionally an institutional player, into the retail space. GalaxyOne's offerings are similar to those of rival fintechs Robinhood, eToro, and Cash App.
"We've spent years building institutional-quality infrastructure to serve the world's most sophisticated investors," said Galaxy founder and CEO Mike Novogratz. "Now, we're extending that edge to individuals."
GalaxyOne was originally developed as Fierce, a finance super-app that Galaxy acquired in December 2024 for $12.5 million, according to the company's quarterly financial report. The firm's former CEO, Rob Cornish, is now CTO of Galaxy, and the original Fierce development team is now working on GalaxyOne.
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