Galaxy Seeks Trust Bank Charter in Major Move Four Years After BitGo Split
Galaxy Digital has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Galaxy National Bank, a national trust bank headquartered in New York. The initiative aims to unify its institutional custody, trading, advisory services, and digital asset staking operations under federal banking supervision.
The formal application comes four years after the termination of its $1.2 billion acquisition agreement with BitGo. Having secured key state licenses such as the New York BitLicense, Galaxy aims to overcome interstate regulatory fragmentation to compete directly with established federal custodians, reinforcing institutional capital confidence within an increasingly demanding regulatory landscape.
The proposal is subject to technical review and approval by the OCC; if approved, it will establish a federally regulated banking channel that expands the financial infrastructure available to corporations and institutional investors.
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