Galaxy Digital Actions increased by 8% in pre-market trading on Monday while the company deployed Galaxyone, a mobile and web platform designed to give retail investors access to a mixture of cash, crypto and equity investment tools, with the yield.
The application gives users access to high -efficiency cash accounts provided by the FDIC, cryptographic trading and American shares and the stock market negotiated funds (ETF), the company announced in a press release. Galaxy says that it offers 4% annual yields on regular cash deposits and up to 8% for accredited investors via its Galaxy Premium product. The two prices are fed by the company’s institutional loan activity, which manages a loan book of more than $ 1.1 billion.
Beyond passive yield, galaxyone users can exchange digital assets such as Bitcoin ether and Solana as well as the actions listed on the main American exchanges. Galaxy also offers automated reinvestment of crypto or cash benefits, aimed at simplifying composition yields, the company said.
The launch puts Galaxy in direct competition with Robinhood (Hood) and Coinbase (Coin), two of the dominant players among digital retail merchants in the United States have both launched new services this year – including the Jalititude of Crypto, margin trading and retirement accounts – while they are trying to lock more users and increase assets held on their platforms.
Hood and Coin are both negotiated approximately 2% higher in pre-commercial exchanges alongside a general increase in stock market and cryptographic markets.
Galaxy’s decision is partly notable because of its institutional history. The company has become public on the Nasdaq in May and its shares have increased by 100% since registration. Originally built on the infrastructure of Fierce, a Fintech platform, Galaxy acquired last year, Galaxyone signals a wider thrust in the finance of consumers of a company historically focused on institutional customers.
Galaxy said that more features were on the way, including corporate accounts, crypto milestones and widened loan products.
