Add as a preferred source on GoogleGalaxy Digital Applies for OCC Charter for New York Trust Bank
The proposed bank would offer fiduciary investment advice and digital-asset services. Galaxy says it holds more than 50 licenses worldwide.
Galaxy Digital LP applied to the U.S. Office of the Comptroller of the Currency (OCC) on Oct. 29 for a federal charter to establish a national trust bank in New York.
The planned institution would offer fiduciary investment advice and digital-asset services. Galaxy said the application is intended to bring its business under federal supervision.
Galaxy said it holds more than 50 licenses worldwide. It identified approvals from NY DFS, the Financial Conduct Authority (FCA), the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
The proposal combines that existing global licensing footprint with a federal charter request for a bank based in New York. It would place the two stated service lines inside the proposed trust bank, while Galaxy's stated reason for the filing is federal supervision.
The application describes a planned institution; it does not say the bank is already operating under the requested charter.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.