Galaxy Digital, a crypto investment firm founded by former Fortress Investment Group president Michael Novogratz, is launching the GalaxyOne platform, offering exposure to both crypto and traditional finance (TradFi) markets.
Galaxy Digital has launched GalaxyOne, a platform combining exposure to yields on fiat cash with trading cryptocurrencies and equities, the company announced on Monday.
Targeting individual investors in the United States, GalaxyOne offers a 4% annual percentage yield (APY) on cash deposits, in addition to an 8% APY through Galaxy Premium Yield, which is offered exclusively to accredited investors.
“We’ve spent years building institutional-quality infrastructure to serve the world’s most sophisticated investors. Now, we’re extending that edge to individuals,” Novogratz said.
“Full spectrum financial services provider”
Originally developed under the name Fierce — which Galaxy acquired in 2024 — GalaxyOne is designed for individual investors seeking exposure to both TradFi and digital markets.
According to Novogratz, GalaxyOne advances Galaxy’s mission of becoming a “full spectrum financial services provider” that builds regulated and accessible products for all market segments.
The new GalaxyOne app is now available on iOS and Android, featuring four core products, including Galaxy Premium Yield, GalaxyOne Cash, GalaxyOne Crypto and GalaxyOne Brokerage.
Galaxy acquired all shares of Fierce Technology for about $12.5 million in 2024. Source: Galaxy DigitalAmong notable features, the app offers the ability to reinvest the earned interest on cash into Bitcoin (BTC) and other supported crypto assets, including Ether (ETH) and Solana (SOL).
Race for yields
The launch of GalaxyOne comes amid growing demand for yields, or income on an investment over a specific period, particularly in the cryptocurrency industry.
According to Stripe CEO Patrick Collison, the rise of yield-bearing stablecoins will eventually force banks to offer customers yields on deposits to remain competitive.
“As technology reshapes how people invest, expectations are clear: more yield, easier access from a single platform, and opportunities that extend beyond traditional boundaries,” GalaxyOne director and Galaxy managing director Zac Prince said, adding:
GalaxyOne does not support yields on stablecoins at launch, as the US GENIUS Act explicitly banned issuers from offering yield-bearing stablecoins.
Related: Coinbase taps DeFi to offer up to 10.8% yield on USDC holdings
However, analysts like Nic Carter, partner at Castle Island Ventures, expect the trend for stablecoin yields to continue growing despite industry pushback.
“We have an exciting roadmap ahead and are excited to deliver a differentiated financial experience to our clients. This is just the beginning,” Prince said.
Cointelegraph contacted Galaxy for comment regarding a potential yield offering on stablecoins but had not received a response by publication.
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Source: https://cointelegraph.com/news/mike-novogratz-galaxy-galaxyone-yield-cash?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
