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NEW YORK - Galaxy Digital Inc. (NASDAQ:GLXY) (TSX:GLXY), a $13.7 billion market cap digital asset firm whose stock has surged over 100% year-to-date, launched GalaxyOne on Monday, a new financial technology platform that provides U.S. individual investors with access to yield products and trading services in a single digital experience. According to InvestingPro analysis, the company’s stock appears slightly undervalued based on its Fair Value calculations.
The platform offers accredited investors the opportunity to earn 8.00% Annual Percentage Yield through Galaxy Premium Yield, while all users can access 4.00% APY on cash deposits with FDIC insurance up to $250,000 through banking services provided by Cross River Bank. This move comes as Galaxy Digital demonstrates strong momentum, with InvestingPro data showing impressive returns of nearly 194% over the past year, despite operating in a highly volatile market with a beta of 3.85.
GalaxyOne also includes cryptocurrency trading for major digital assets including bitcoin, ethereum, and solana, as well as commission-free trading of more than 2,000 U.S. stocks and ETFs.
"We’ve spent years building institutional-quality infrastructure to serve the world’s most sophisticated investors. Now, we’re extending that edge to individuals," said Mike Novogratz, Founder and CEO of Galaxy Digital, in a press release statement.
The platform was developed from Galaxy’s 2024 acquisition of Fierce and is led by Zac Prince, Managing Director at Galaxy, alongside the original development team. Rob Cornish, Fierce’s former CEO, will continue as Galaxy’s Chief Technology Officer.
Galaxy Premium Yield requires a $25,000 minimum investment and is capped at $1 million per investor, with a total investment cap of $250 million. The yield is generated through Galaxy’s institutional lending business, which has been active since 2018.
The platform is available on mobile devices and online in the U.S., offering additional features such as the ability to auto-reinvest earned interest into cryptocurrencies and a stock lending program for eligible securities.
Banking services on the platform are provided by Cross River Bank, while brokerage accounts are introduced by Fin2, LLC and offered through DriveWealth, LLC, a registered broker-dealer and FINRA/SIPC member. For investors seeking deeper insights into Galaxy Digital’s financial health and growth potential, InvestingPro offers comprehensive analysis with 10+ additional ProTips and detailed metrics in its Pro Research Report, available exclusively to subscribers.
In other recent news, Galaxy Digital Inc. has secured a substantial $1.4 billion project financing facility to expand its Helios datacenter campus in West Texas. This facility will support the retrofit and expansion of the campus to provide power for artificial intelligence and high-performance computing operations in collaboration with CoreWeave Inc. Additionally, Galaxy Digital has launched tokenized equity shares, partnering with Superstate to allow stockholders to tokenize and hold GLXY shares on a blockchain. This initiative marks the first instance of a public company tokenizing its SEC-registered equity directly on a major blockchain.
In analyst updates, Piper Sandler has raised its price target for Galaxy Digital to $42.00, up from $36.00, while maintaining an Overweight rating. This adjustment reflects an updated valuation model based on the company’s mining expansion. Furthermore, Piper Sandler reiterated its Overweight rating and $36.00 price target following meetings with Galaxy Digital’s leadership team, including CEO Mike Novogratz and CFO Tony Paquette. In technology partnerships, Korean custodian BDACS has selected GK8, a Galaxy company, as its digital asset technology provider. GK8 will supply its Impenetrable Vault and other solutions to support BDACS’s secure custody services for Korean institutions.
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