Galaxy Digital has formally applied for a national trust bank charter in the United States, moving to expand its regulated financial services footprint.
The company submitted its application to the Office of the Comptroller of the Currency (OCC) through its subsidiary, Galaxy Digital LP. If approved, the proposed Galaxy National Bank would be headquartered in New York and operate under federal supervision.
The planned institution would offer cryptocurrency custody, trading, and staking services, along with fiduciary investment advisory services. The federal charter could help Galaxy serve institutional clients nationwide through a unified regulatory framework, simplifying how the company delivers services across different US jurisdictions.
The application arrives amid legal challenges from community banks contesting the OCC's authority to grant cryptocurrency banking charters. Galaxy must still secure regulatory approval before the proposed bank can begin operations, and the outcome could set a precedent for other crypto firms seeking federal bank charters.
