{"id":2078,"date":"2025-10-12T05:34:42","date_gmt":"2025-10-12T05:34:42","guid":{"rendered":"https:\/\/www.finznest.com\/blog\/novogratzs-galaxy-digital-launches-retail-app-to-rival-robinhood\/"},"modified":"2025-10-12T05:34:42","modified_gmt":"2025-10-12T05:34:42","slug":"novogratzs-galaxy-digital-launches-retail-app-to-rival-robinhood","status":"publish","type":"post","link":"https:\/\/www.finznest.com\/blog\/novogratzs-galaxy-digital-launches-retail-app-to-rival-robinhood\/","title":{"rendered":"Novogratz&#8217;s Galaxy Digital launches retail app to rival Robinhood"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108146712\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Sopa Images | Lightrocket | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Galaxy Digital<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> shares jumped 7% Monday after the digital assets investment firm led by CEO Mike Novogratz unveiled a Robinhood-like trading platform, called GalaxyOne.<\/p>\n<p>The platform, which launched Monday, hosts commission-free buying and selling of more than 2,000 stocks and exchange-traded funds, in addition to trading of cryptocurrencies such as <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">bitcoin<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\">ether<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, Galaxy Digital said in a statement.<\/p>\n<p>GalaxyOne also offers several yield-bearing accounts, including a 4% annual percentage yield on cash deposits and an 8% yield investment note for accredited investors who put up a minimum of $25,000, the company said.<\/p>\n<p>Galaxy shares have more than doubled this year as federal regulators have softened their oversight of digital assets.<\/p>\n<\/div>\n<div>\n<div class=\"Collapsible-proliveCollapsableContainer\" role=\"button\" tabindex=\"0\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"256\" height=\"256\" viewbox=\"0 0 256 256\" aria-labelledby=\"title desc\" role=\"img\" focusable=\"false\" preserveaspectratio=\"xMinYMin\" class=\"Collapsible-stockChartIcon\"><title>Stock Chart Icon<\/title><desc>Stock chart icon<\/desc><g transform=\"translate(1.4065934065934016 1.4065934065934016) scale(2.81 2.81)\"><path d=\"M 87.994 0 H 69.342 c -1.787 0 -2.682 2.16 -1.418 3.424 l 5.795 5.795 l -33.82 33.82 L 28.056 31.196 l -3.174 -3.174 c -1.074 -1.074 -2.815 -1.074 -3.889 0 L 0.805 48.209 c -1.074 1.074 -1.074 2.815 0 3.889 l 3.174 3.174 c 1.074 1.074 2.815 1.074 3.889 0 l 15.069 -15.069 l 14.994 14.994 c 1.074 1.074 2.815 1.074 3.889 0 l 1.614 -1.614 c 0.083 -0.066 0.17 -0.125 0.247 -0.202 l 37.1 -37.1 l 5.795 5.795 C 87.84 23.34 90 22.445 90 20.658 V 2.006 C 90 0.898 89.102 0 87.994 0 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 65.626 37.8 v 49.45 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 23.518 L 65.626 37.8 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 47.115 56.312 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 42.03 L 47.115 56.312 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 39.876 60.503 c -1.937 0 -3.757 -0.754 -5.127 -2.124 l -6.146 -6.145 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 59.844 C 41.952 60.271 40.933 60.503 39.876 60.503 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 22.937 46.567 L 11.051 58.453 c -0.298 0.298 -0.621 0.562 -0.959 0.8 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 48.004 L 22.937 46.567 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><\/g><\/svg><\/p>\n<div class=\"Collapsible-proLivePlayerCloseOrExpand\"><\/div>\n<\/div>\n<p><iframe title=\"GLXY year to date\" src=\"https:\/\/www.cnbc.com\/appchart?symbol=GLXY&amp;range=YTD&amp;type=mountain&amp;embedded=true&amp;$DEVICE$=undefined\" height=\"460\" scrolling=\"no\" loading=\"lazy\" style=\"border:0;width:100%\"><\/iframe><\/p>\n<p>GLXY year to date<\/p>\n<\/div>\n<div class=\"group\">\n<p>The trading platform&#8217;s launch comes as cryptocurrencies and their underlying blockchains appear poised to disrupt the traditional financial system, Novogratz said Monday on CNBC&#8217;s &#8220;Squawk Box.&#8221;<\/p>\n<p>&#8220;You&#8217;re going to see stablecoins take money out of bank deposits \u2026 then, you&#8217;re going to see credit be replaced,&#8221; Novogratz said. &#8220;In time, that will happen.&#8221;<\/p>\n<p>In that ever-changing environment, GalaxyOne aims to serve as a one-stop shop for retail investors looking to trade a wider range of traditional and digital assets than those available through existing brokerages, he added.<\/p>\n<p>&#8220;You got a bank account, and you gotta shift that money somewhere else to buy stocks. You got a brokerage account, [but] to buy crypto, you gotta go somewhere else,&#8221; Novogratz said. &#8220;We think all of that&#8217;s gonna aggregate in one place.&#8221;<\/p>\n<p>Cantor Fitzgerald said Monday in a note to clients that Galaxy&#8217;s foray into retail-focused services reflects its desire to compete against one-stop financial services applications, including <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-6\">Robinhood<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-7\">eToro<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>.<\/p>\n<p>&#8220;GLXY, which has historically only served institutional clients, is expanding its reach for the first time,&#8221; Cantor analyst Brett Knoblauch said in the note. &#8220;This product, in our mind, will look to compete with HOOD (OW) and ETOR (OW).&#8221;<\/p>\n<p>The firm has a buy rating on Galaxy&#8217;s stock, and it has set a $45 price target on shares. That implies upside of 24% from Friday&#8217;s close.<\/p>\n<p>Asked whether Galaxy&#8217;s trading platform plans to target Robinhood and its rivals&#8217; users, GalaxyOne managing director Zac Prince said Monday in an interview with CNBC: &#8220;We&#8217;re not thinking of the app as something that is trying to take Robin Hood head on today. We are actually aiming to target a very specific type of customer profile currently, which is the affluent accredited investor \u2026 in the U.S.&#8221;<\/p>\n<p>Nevertheless, Prince acknowledged that GalaxyOne is entering a crowded market. &#8220;In a sense, we are competing with everyone who has a consumer-facing financial app, whether it&#8217;s [decentralized or centralized] finance or traditional FinTech, and we&#8217;re competing for mindshare and attention.&#8221;<\/p>\n<p>A growing number of traders have flocked to crypto in recent months, largely due to a broader bull run that has propelled several digital assets&#8217; prices to record highs this year.<\/p>\n<p>Bitcoin rallied to a new all-time-high price of roughly $125,800 on Monday, shortly after surpassing the $125,000 mark for the first time last weekend.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sopa Images | Lightrocket | Getty Images Galaxy Digital shares jumped 7% Monday after the digital assets investment firm led by CEO Mike Novogratz unveiled a Robinhood-like trading platform, called GalaxyOne. The platform, which launched Monday, hosts commission-free buying and selling of more than 2,000 stocks and exchange-traded funds, in addition to trading of cryptocurrencies [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1036,1034,1033,1035,1032,706,1037,409],"class_list":["post-2078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-app","tag-digital","tag-galaxy","tag-launches","tag-novogratzs","tag-retail","tag-rival","tag-robinhood"],"_links":{"self":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts\/2078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/comments?post=2078"}],"version-history":[{"count":0,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts\/2078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/media\/2079"}],"wp:attachment":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/media?parent=2078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/categories?post=2078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/tags?post=2078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}