Galaxy Digital rolled out GalaxyOne, a new consumer trading app, on Monday, and its shares rose 7% on the news and are trading at $38.84. The firm, led by CEO Mike Novogratz, said the app combines a 4% cash account, crypto custody and trading, and zero-commission trading for U.S. stocks and ETFs.
U.S. users who pass know-your-customer checks can buy, hold, and move bitcoin, ether, Solana, and Paxos Gold. The platform also supports trading of more than 2,000 U.S. stocks and ETFs, including fractional shares.
Launch reaction
Investors reacted quickly, and the stock gain reflected market appetite for a familiar retail offering from a firm known for serving institutions.
Galaxy positioned GalaxyOne as a single app where users can hold cash, stocks, and crypto in one place. The company said it plans to add more tokens over time and lets users transfer digital assets on and off the platform.
What does the app offer?
GalaxyOne gives account holders a cash product that pays 4% interest. It also provides custody for crypto assets and a trading interface for equities and ETFs with no commission fees.
The platform supports fractional share trading, which lets users buy part of a share rather than a full share. Galaxy said the aim is to make simple investing and crypto custody available in one experience.
Tokens and trading
At launch, GalaxyOne lists Bitcoin, Ether, Solana, and Paxos Gold. Galaxy’s team told reporters the token lineup will grow. Users will be able to move their crypto holdings out of the app whenever they want. Galaxy said this feature gives people the freedom to shift assets between wallets and platforms.
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Premium yield product and limits
Galaxy introduced Galaxy Premium Yield, an investment note that offers 8% APY to accredited U.S. investors. The firm said this yield is generated by its institutional lending business.
Unlike the 4% cash account, the Premium Yield product is not FDIC insured. Access is limited to investors who meet income or net worth thresholds under U.S. rules.
Galaxy has been known mainly as an institutional player, and the new app marks a clear push into the retail market. Galaxy bought the code base and team behind the app when it acquired Fierce in December 2024 for $12.5 million, according to the company report.
The former Fierce CEO, Rob Cornish, now serves as Galaxy’s chief technology officer and leads the development team on GalaxyOne.
How does the company describe it?
Galaxy described the move as bringing institutional-grade infrastructure to individual users. The firm said years of work building systems for big clients helped shape the app. The message was that retail users can now access tools and custody that were once aimed only at large investors.
Galaxy said accounts will open only after users pass know-your-customer checks. The Premium Yield product is restricted to accredited investors, reflecting securities and eligibility rules. Galaxy also noted that transfers of digital assets can move on and off the platform without extra gates.