Shares of Galaxy Digital rose 8% in premarket trading Monday as the company rolled out GalaxyOne, a mobile and web platform built to give retail investors access to a blend of cash, crypto, and equity investing tools, with yield at the core.
The app gives users access to FDIC-insured high-yield cash accounts, crypto trading, and U.S. equities and exchange-traded funds (ETFs), the company announced in a press release. Galaxy says it’s offering 4% annual returns on regular cash deposits and up to 8% for accredited investors through its Galaxy Premium Yield product. Both rates are powered by the company’s institutional lending business, which manages a loan book of more than $1.1 billion.
Beyond passive yield, GalaxyOne users can trade across digital assets like bitcoin BTC$124,715.58, ether ETH$4,587.88 and solana SOL$233.87, as well as stocks listed on major U.S. exchanges. Galaxy also offers automated reinvestment of earnings into crypto or cash, aiming to simplify compounding returns, the company said.
The launch puts Galaxy in direct competition with Robinhood (HOOD) and Coinbase (COIN), two of the dominant players among digital-first retail traders in the U.S. Both have launched new services this year — including crypto staking, margin trading and retirement accounts — as they try to lock in more users and increase assets held on their platforms.
HOOD and COIN are both trading about 2% higher in pre-market trading alongside a general rise in stock and crypto markets.
Galaxy’s move is notable in part because of its institutional background. The company went public on Nasdaq in May and its stock is up 100% since the listing. Originally built on the infrastructure of Fierce, a fintech platform Galaxy acquired last year, GalaxyOne signals a broader push into consumer finance from a firm historically focused on institutional clients.
Galaxy said more features are on the way, including business accounts, crypto staking and expanded lending products.