Galaxy unveils crypto and U.S. equities trading app with 4-8% yield

Galaxy Digital has launched GalaxyOne, a new financial app that will allow individual investors in the United States to trade cryptocurrencies, U.S. equities, and cash, and tap into yields of 4%–8%.

Summary

Galaxy Digital has launched GalaxyOne, an app that lets retail investors trade crypto, stocks with 4%-8% yield.
The new GalaxyOne platform is for U.S.-based investors.
Robinhood is among top trading apps also aggressively expanding in the U.S.

The GalaxyOne platform, available on mobile and via web, will offer a single platform through which retail investors can access annual percentage yield on their cash, crypto, and equity of U.S.-listed companies.

App users can earn 4% APY, Galaxy said in a press release, with the option to auto-reinvest earnings into Bitcoin (BTC) and Ethereum (ETH) among other cryptocurrencies. The app also allows accredited investors to high-yield accounts with 8% APY, where Galaxy Premium Yield investors will have interest accrue daily, and paid to their accounts every month.

“We’ve spent years building institutional-quality infrastructure to serve the world’s most sophisticated investors. Now, we’re extending that edge to individuals,” said Mike Novogratz, founder and chief executive officer of Galaxy. “Importantly, GalaxyOne advances our mission of becoming a full-spectrum financial services provider that builds trusted, regulated, and accessible products for all market segments.”

Notably, both the 4% and 8% rates are powered by Galaxy’s institutional lending business, launched in 2018.