Galaxy Digital, a crypto funding agency based by former Fortress Funding Group president Michael Novogratz, is launching the GalaxyOne platform, providing publicity to each crypto and conventional finance (TradFi) markets.
Galaxy Digital has launched GalaxyOne, a platform combining publicity to yields on fiat money with buying and selling cryptocurrencies and equities, the corporate introduced on Monday.
Concentrating on particular person traders in the USA, GalaxyOne gives a 4% annual proportion yield (APY) on money deposits, along with an 8% APY by way of Galaxy Premium Yield, which is obtainable completely to accredited traders.
“We’ve spent years constructing institutional-quality infrastructure to serve the world’s most subtle traders. Now, we’re extending that edge to people,” Novogratz stated.
“Full spectrum monetary providers supplier”
Initially developed beneath the identify Fierce — which Galaxy acquired in 2024 — GalaxyOne is designed for particular person traders looking for publicity to each TradFi and digital markets.
In line with Novogratz, GalaxyOne advances Galaxy’s mission of turning into a “full spectrum monetary providers supplier” that builds regulated and accessible merchandise for all market segments.
The brand new GalaxyOne app is now accessible on iOS and Android, that includes 4 core merchandise, together with Galaxy Premium Yield, GalaxyOne Money, GalaxyOne Crypto and GalaxyOne Brokerage.
Galaxy acquired all shares of Fierce Know-how for about $12.5 million in 2024. Supply: Galaxy Digital
Amongst notable options, the app gives the power to reinvest the earned curiosity on money into Bitcoin (BTC) and different supported crypto belongings, together with Ether (ETH) and Solana (SOL).
Race for yields
The launch of GalaxyOne comes amid rising demand for yields, or revenue on an funding over a selected interval, significantly within the cryptocurrency trade.
In line with Stripe CEO Patrick Collison, the rise of yield-bearing stablecoins will ultimately power banks to supply clients yields on deposits to stay aggressive.
“As know-how reshapes how individuals make investments, expectations are clear: extra yield, simpler entry from a single platform, and alternatives that reach past conventional boundaries,” GalaxyOne director and Galaxy managing director Zac Prince stated, including:
“GalaxyOne delivers precisely that: a unified alternative to earn yield on money, commerce crypto, and entry US equities, all supported by Galaxy’s monetary self-discipline, institutional oversight, {and professional} group trusted by among the world’s most subtle establishments.”
GalaxyOne doesn’t help yields on stablecoins at launch, because the US GENIUS Act explicitly banned issuers from providing yield-bearing stablecoins.
Associated: Coinbase faucets DeFi to supply as much as 10.8% yield on USDC holdings
Nonetheless, analysts like Nic Carter, companion at Fort Island Ventures, anticipate the development for stablecoin yields to proceed rising regardless of trade pushback.
“We’ve an thrilling roadmap forward and are excited to ship a differentiated monetary expertise to our purchasers. That is only the start,” Prince stated.
Cointelegraph contacted Galaxy for remark concerning a possible yield providing on stablecoins however had not obtained a response by publication.
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