Galaxy Digital

What Galaxy Digital does

Galaxy Digital is a publicly-traded (NASDAQ: GLXY) crypto-native financial services firm founded in 2018 by Mike Novogratz, operating three integrated divisions: Global Markets (institutional OTC and electronic trading, lending, derivatives, prime brokerage, and investment banking); Asset Management (ETFs, hedge funds, Galaxy Ventures, Galaxy Interactive, plus staking and tokenization infrastructure); and Data Centers (the Helios AI/HPC campus in Dickens County, Texas). The company serves 1,600+ institutional counterparties including trading firms, hedge funds, registered investment advisors, family offices, banks, and asset managers, with $9 billion in assets on platform and a $1.4 billion average loan book as of Q1 2026. Galaxy also serves individual accredited investors and businesses through the GalaxyOne mobile application, which offers crypto, equities, ETFs, cash management, and an 8.00% yield product.

Underlying technology includes proprietary custody infrastructure via the GK8 platform acquired in 2022, institutional staking infrastructure through Liquid Collective (post-Alluvial Finance acquisition, December 2025) and CryptoManufaktur (acquired July 2024), tokenization technology powering partnerships like State Street's SWEEP fund on Solana, and the 1,500+ acre Helios data center campus with 1.6+ GW of ERCOT-approved power capacity. Galaxy holds 50+ regulatory licenses globally including FINRA broker-dealer membership, CFTC swap dealer registration, FCA Cryptoasset Exchange Provider registration in the UK, and a newly obtained New York BitLicense (May 2026).

Revenue is generated through nine distinct streams: transaction-based digital asset trading (spreads and fees across crypto OTC and electronic markets), interest income from a $1.4 billion institutional lending book, asset management fees across alternatives/ETFs/venture funds, investment banking advisory fees, staking fees as a percentage of staked assets ($3.3B assets under stake following CryptoManufaktur), tokenization technology and platform fees, contracted data center revenue (~$1B average annual from CoreWeave's 15-year Helios lease at ~90% lease-level EBITDA margins), licensing of the GK8 custody platform, and GalaxyOne subscription and trading fees. Distribution spans enterprise field sales across New York and London, referral partnerships with Morgan Stanley Wealth Management and others, self-serve institutional platforms (GalaxyOne Prime), and the consumer GalaxyOne mobile application.

Name

Galaxy Digital

Legal name

Galaxy Digital Inc.

Website

https://galaxy.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Galaxy Digital is a publicly-traded crypto financial services firm and AI infrastructure operator serving 1,600+ institutional counterparties with trading, lending, prime brokerage, asset management, staking, and tokenization services, while operating the 1.6+ GW Helios AI/HPC data center campus under a 15-year CoreWeave lease.

Ownership category

akta.pro rank

Product category

Institutional Digital Asset Financial Services

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD)

akta.pro secondary industries

Centralized Crypto Lending Platforms (CeFi) (FSADAFAA), Treasury Management & Corporate Crypto Yield Programs (FSADAHAL)

Keywords

• Institutional digital asset trading
• Crypto prime brokerage
• Digital asset lending
• Crypto investment banking
• AI HPC data centers

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Digital Asset Trading: Galaxy operates one of the world's leading liquidity providers in digital assets, offering high-touch OTC and electronic trading across multiple exchanges. Revenue is generated through transaction fees, spreads, and market-making activities across crypto assets including Bitcoin, Ethereum, and other digital assets. The trading business includes a major OTC crypto derivatives desk.
2. Institutional Lending: Galaxy provides bespoke lending solutions for institutional clients including leverage, hedging, and working capital needs. The average loan book size was approximately $1.4 billion for Q1 2026. Revenue is generated through interest income on the loan portfolio.
3. Asset Management: Galaxy manages a broad suite of strategies including ETFs, hedge funds, venture capital, and active and passive funds invested across digital assets, public equities, and alternative assets. Revenue includes management fees and performance fees. Galaxy Ventures provides stage-agnostic venture investing across protocols, scaling solutions, DeFi, and web3 infrastructure. Galaxy Interactive focuses on gaming and virtual worlds.
4. Investment Banking: Galaxy provides M&A and strategic financing advisory services for digital asset companies and traditional companies entering the crypto space. Revenue is generated through advisory fees, success fees, and financing arrangements.
5. Staking Infrastructure: Galaxy offers institutional staking services for Ethereum, Solana, and other proof-of-stake blockchains through its Liquid Collective infrastructure and GalaxyOne platform. Revenue is generated through staking fees as a percentage of staked assets.
6. Tokenization Services: Galaxy provides institutional-quality financial structuring and distribution technology for bringing financial products onchain. This includes the State Street Galaxy Onchain Liquidity Sweep Fund and other tokenized asset offerings. Revenue includes technology fees and platform fees.
7. Data Center Operations: Galaxy operates the Helios AI/HPC data center campus, with CoreWeave as anchor tenant under a 15-year lease agreement expected to generate approximately $1 billion in average annual revenue at approximately 90% lease-level EBITDA margins. Revenue is stable, contracted cash flows uncorrelated to digital asset prices.
8. Custody Technology (GK8): Enterprise-grade custody platform for financial institutions, originally acquired from GK8. Galaxy provides custody technology to banks and financial institutions seeking digital asset custody solutions.
9. GalaxyOne Consumer Platform: Mobile application for individual accredited investors offering crypto trading, equities, ETFs, and yield products. Galaxy Premium Yield offers 8.00% yield. Revenue includes trading fees, subscription fees, and interest income.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Galaxy Digital operates a comprehensive institutional digital asset financial services platform spanning OTC and electronic trading, lending, derivatives, prime brokerage, and investment banking, complemented by asset management (ETFs, hedge funds, venture capital via Galaxy Ventures and Galaxy Interactive), institutional staking and tokenization infrastructure, and the Helios AI/HPC data center campus in Texas. Its consumer-facing GalaxyOne platform extends multi-asset investing, yield products, and crypto services to U.S. accredited investors.

Product overview

Galaxy Digital operates a multi-platform digital assets and AI infrastructure company consisting of three core divisions: Global Markets (institutional trading, lending, derivatives, prime brokerage, and investment banking); Asset Management (alternatives, ETFs, venture capital through Galaxy Ventures and Galaxy Interactive, staking, and tokenization); and Data Centers (AI/HPC infrastructure through the Helios campus). Key product brands include GalaxyOne and GalaxyOne Institutional for trading and yield, GK8 for institutional custody, and the Helios 1.6+ GW data center in Texas for AI computing. The company manages approximately $9 billion in assets on platform, maintains 1,600+ institutional trading counterparties, and holds 50+ regulatory licenses globally.

Differentiator

Problem solved

Functional benefit

Brands

• GalaxyOne: Multi-asset platform for individual investors to manage cash, crypto, equities, and yield in one app. Also offered as GalaxyOne for Business for institutional clients.
• GalaxyOne Prime
• GK8 by Galaxy
• Galaxy Ventures
• Galaxy Interactive
• Helios
• GalaxyOne Institutional
• Galaxy Digital Asset Management

Products and services

• GalaxyOne Multi-asset financial technology platform enabling individuals and businesses to manage cash, crypto, equities, and yield on a single unified application with institutional-grade infrastructure and automated investment features. Galaxy Premium Yield offers 8.00% yield for U.S. accredited investors.
• GalaxyOne Institutional Institutional-grade platform providing digital asset trading, lending, derivatives, and prime services for hedge funds, registered investment advisors, and family offices.
• GalaxyOne for Business Business version of the GalaxyOne platform extending multi-asset management capabilities (cash, crypto, equities, and yield) to business users.
• Institutional Trading Institutional trading services providing seamless access across multiple digital asset exchanges with high-touch OTC and electronic trading capabilities for trading firms, hedge funds, and family offices.
• Institutional Lending Digital asset lending solutions providing liquidity for leverage, hedging, and working capital needs for institutional clients, with an average loan book size of approximately $1.4 billion in Q1 2026.
• Institutional Derivatives Bespoke derivatives solutions and options trading desk operating one of the largest OTC crypto derivatives trading desks, including prediction markets liquidity from Kalshi and Polymarket.
• Investment Banking M&A and strategic financing advisory services for digital asset companies and traditional companies entering the crypto space, leveraging Galaxy's full platform capabilities.
• GK8 by Galaxy Custody Platform Enterprise-grade digital asset custody platform and self-custody solutions for financial institutions, originally acquired from Celsius Network's bankruptcy estate.
• Asset Management & Infrastructure Solutions Investment management division offering ETFs, hedge funds, venture capital, and active and passive funds invested across digital assets, public equities, and alternative assets since 2018.
• Institutional Staking Institutional staking solutions maximizing digital asset yield through secure and scalable staking infrastructure supporting Ethereum, Solana, and other proof-of-stake blockchains, powered by Liquid Collective.
• Tokenization Services Institutional-quality financial structuring and distribution infrastructure enabling onchain tokenization of real-world assets, including tokenized funds like the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) on Solana.
• Helios AI/HPC Data Center AI and high-performance computing (HPC) data center campus in Dickens County, Texas, spanning 1,500+ acres with 1.6+ GW of ERCOT-approved power capacity, targeting 133 MW IT load in early 2026, hosting AI compute workloads for tenants like CoreWeave.
• Galaxy Ventures Stage-agnostic venture investing across protocols, scaling solutions, DeFi, and web3 infrastructure for crypto companies.
• Galaxy Interactive Venture investing at the intersection of content, technology, and social commerce with emphasis on gaming and virtual worlds.

Quantifiable outcome

• Assets on Platform of $9 billion as of March 31, 2026
• +5 more outcomes

Named customers13 records

Segments9 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

15 partnerships are on record, tiered minor and core.

• Digital Prime TechnologiesminorStrategic or Co-development Partner · 23 June 2026Galaxy Digital took a strategic stake in Digital Prime Technologies as launch participant on Tokenet, an institutional digital asset lending platform developed in partnership with EquiLend. The platform brings securities-lending style workflows and risk controls to digital asset lending.
• Morgan Stanley Wealth ManagementcoreGTM or Marketing Partner · 5 June 2026Morgan Stanley Wealth Management announced referral arrangement with Galaxy Digital allowing eligible clients to lend cryptocurrency and receive shares of spot crypto ETP products including Morgan Stanley Bitcoin Trust. Reduces onboarding timelines by 75% and lowers Galaxy's minimum transaction from $25M to $5M for Morgan Stanley-referred clients.
• BlackRockminorStrategic or Co-development Partner · 14 May 2026BlackRock is a launch partner and institutional backer of Basin, a programmable credit infrastructure platform providing tokenized real-world asset liquidity. Galaxy Digital supports the platform as institutional partner.
• SharplinkminorStrategic or Co-development Partner · 12 May 2026Galaxy Digital and Sharplink launched the Galaxy Sharplink Onchain Yield Fund, LP targeting $125 million in DeFi liquidity pools and blockchain-driven yield strategies. Galaxy contributes $25 million and serves as investment manager.
• State StreetcoreStrategic or Co-development Partner · 5 May 2026State Street Investment Management and Galaxy Digital launched the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a tokenized private liquidity fund enabling 24/7 onchain cash management via stablecoin on Solana. Galaxy provides tokenization technology and digital infrastructure.
• JPMorganminorGTM or Marketing Partner · 11 December 2025JPMorgan arranged Galaxy Digital's $50 million onchain US commercial paper issuance on the Solana blockchain, one of the earliest debt deals on a public network in the US. Tokenized securities were sold to Franklin Templeton and Coinbase.
• Alluvial FinancecoreStrategic or Co-development Partner · 4 December 2025Galaxy Digital acquired Alluvial Finance and became the development company for Liquid Collective, enhancing its institutional staking infrastructure. The acquisition introduces Alluvial's engineering team and technology for Ethereum and Solana DeFi applications, simplifying multi-party integration processes.
• CryptoManufakturcoreStrategic or Co-development Partner · 19 July 2024Galaxy Digital acquired nearly all assets of CryptoManufaktur LLC, a blockchain node operator and Ethereum staking infrastructure provider. The acquisition enhanced Galaxy's staking capabilities and scaled assets under stake to $3.3 billion, adding CryptoManufaktur's engineering team.
• GK8coreStrategic or Co-development Partner · 2 December 2022Galaxy announced acquisition of GK8, a digital asset self-custody platform, as part of strategic expansion in digital asset financial services. The acquisition supports Galaxy's new prime service offering for institutional investors and enhances custody solutions, including a team and office in Tel Aviv.
• Vision Hill GroupminorStrategic or Co-development Partner · 24 May 2021Galaxy Digital acquired Vision Hill Group, a digital asset investment firm, to expand its fund management platform and enhance services for institutional investors. The acquisition integrated Vision Hill's data, analytics, and asset management capabilities.
• CoreWeavecoreChannel Partner/ Reseller/ DistributorCoreWeave is the anchor tenant at Galaxy's Helios AI/HPC data center, leasing the full initial 800 MW capacity under a 15-year agreement expected to generate approximately $1 billion in average annual revenue at 90% lease-level EBITDA margins. First data hall delivered April 2026.
• BitGominorOthersGalaxy Digital and BitGo are in ongoing court proceedings over a failed $1.2 billion acquisition deal. BitGo seeks $100 million in damages for alleged breach of agreement.
• EquiLendminorStrategic or Co-development PartnerEquiLend partnered with Digital Prime Technologies to launch Tokenet, an institutional digital asset lending platform. Galaxy Digital is among the first participants on the platform.
• Solana FoundationminorStrategic or Co-development PartnerGalaxy supports Solana ecosystem through staking services, SOL treasury financing (Forward Industries), and infrastructure services. Morgan Stanley ETF filings name Galaxy Blockchain Infrastructure as staking provider for Solana ETFs.
• Ethereum FoundationminorStrategic or Co-development PartnerGalaxy provides institutional staking infrastructure for Ethereum through Liquid Collective and GalaxyOne platform. Morgan Stanley ETF filings name Galaxy as potential staking provider.

Scale indicators18 records

Recent moves9 records

Expansion highlights8 records

Direct peers

• Coinbase Global: Largest publicly traded US crypto exchange offering institutional trading, custody, staking, and lending services with similar institutional prime brokerage focus. Direct competitor across Galaxy's Global Markets division and increasingly across consumer offerings.
• Marathon Digital Holdings: Bitcoin miner actively pivoting to AI/HPC data center hosting. The most directly comparable peer to Galaxy's Helios strategy (power capacity repurposed for AI compute), with similar capital-intensive infrastructure business model.
• Riot Platforms: Bitcoin miner with significant Texas power capacity pivoting toward AI/HPC hosting. Comparable to Galaxy's Helios strategy of leveraging crypto-era power infrastructure for AI workloads, with similar regulatory and operational profile.
• Core Scientific: Crypto miner emerging from bankruptcy that has pivoted its data centers to AI/HPC hosting, including a major contract with CoreWeave. Highly comparable to Galaxy's Helios business model and CoreWeave anchor tenant relationship.
• Hut 8: Canadian-listed Bitcoin miner with US operations pivoting to AI/HPC infrastructure under the Hut 8 AI brand. Comparable to Galaxy's Helios pivot, though smaller in power capacity scale.
• Applied Digital: Data center operator pivoting from crypto mining to AI/HPC cloud hosting, with major lease arrangements including with CoreWeave. Direct peer to Galaxy's Helios business model and similar customer concentration profile.
• Anchorage Digital: Federally chartered crypto bank providing institutional custody, trading, and staking. Direct competitor to Galaxy's GK8 custody and GalaxyOne Prime institutional offerings with similar institutional focus.
• Grayscale Investments: Largest crypto asset manager with spot crypto ETFs across Bitcoin, Ethereum, and other assets. Comparable to Galaxy's Asset Management division (Alternatives & ETFs), with overlapping institutional and ETF distribution.

Broad incumbents

• Robinhood Markets: Consumer-facing trading platform with growing crypto, staking, and tokenization offerings. Comparable to GalaxyOne in the retail/accredited investor segment, though broader in traditional equities and options.
• Block Inc. Fintech with Bitcoin-focused treasury strategy and consumer Cash App crypto offering, plus Bitkey self-custody. Overlaps with Galaxy's consumer crypto and custody strategy, though primarily retail-focused.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/galaxydigitalhq
• YouTubeyoutube.com/@galaxydigitalhq
• LinkedInlinkedin.com/company/galaxyhq
• Instagraminstagram.com/galaxydigitalhq

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries10 records

Funding overview

Funding rounds14 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments186 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Galaxy Digital