Galaxy Digital applies to the OCC to establish Galaxy National Bank, a U.S. national trust bank.

BlockBeats news, October 29 - Digital assets and data center company Galaxy Digital announced that its subsidiary Galaxy Digital LP has applied to the U.S. Office of the Comptroller of the Currency to establish a national trust bank, Galaxy National Bank, headquartered in New York. If approved, the bank will operate under OCC supervision, providing digital asset custody, trading, staking, and fiduciary investment advisory services to clients nationwide.

Galaxy founder and CEO Mike Novogratz stated that a national trust charter would help bring more business under a unified federal framework and expand client services. The company said it currently holds over 50 licenses and regulatory approvals across the U.S., Europe, and Asia, including SEC-registered broker-dealer, CFTC-registered swap dealer, and recently approved New York State BitLicense and money transmission licenses. The application remains pending OCC approval.