Galaxy Digital Seeks Federal Bank Charter for Crypto Services
Galaxy Digital has applied for a national trust bank charter, aiming to bring digital asset services under federal regulatory oversight.
Galaxy Digital Inc., the Nasdaq-listed digital assets and data center infrastructure firm, has applied for a national trust bank charter, according to an announcement from the company. The proposed entity, to be known as Galaxy National Bank, would operate under federal oversight, marking a significant regulatory step for the firm.
The move positions Galaxy to offer key digital asset services through a federally chartered institution, a structure that would subject the company to stricter but more standardized regulatory requirements than many crypto firms currently face. The application comes as institutional adoption of digital assets continues to accelerate across financial markets.
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A national trust bank charter, granted through the Office of the Comptroller of the Currency, would allow Galaxy to custody assets and provide fiduciary services under a federal framework rather than relying solely on state-level licensing. Industry analysts note that such charters signal a maturation of the crypto sector, as firms seek legitimacy and stability comparable to traditional financial institutions.
Galaxy's bid reflects a broader trend of digital asset companies pursuing banking licenses and charters as regulatory clarity improves in the United States. The company's dual focus on digital assets and data center infrastructure distinguishes it from pure-play crypto exchanges seeking similar approvals.
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