Galaxy Applies for National Trust Bank Charter

Proposed Galaxy National Bank would bring key digital asset services under federal oversight, strengthening Galaxy's position as adoption accelerates

NEW YORK, Oct. 29, 2026 /CNW/ -- Galaxy Digital Inc. (Nasdaq: GLXY) ("Galaxy"), a digital assets and data center infrastructure company, today announced that its subsidiary, Galaxy Digital LP, has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Galaxy National Bank, a proposed national trust bank headquartered in New York.

If approved, Galaxy National Bank would operate as a federally regulated trust institution under OCC supervision, providing Galaxy's custody, trading and staking services for digital assets, along with fiduciary investment advisory services. The bank would serve clients across the country through a single federal framework.

"Digital assets are becoming an increasingly important part of the global financial system, and Galaxy has spent years building the capabilities to support that transition. A national trust charter would be an important next step, allowing us to bring more of our services under a single federal framework and expand how we serve clients as adoption accelerates," said Mike Novogratz, Founder and CEO, Galaxy.

The application, which remains subject to OCC approval, builds on more than 50 licenses Galaxy holds across the U.S., Europe and Asia, including SEC-registered broker-dealer subsidiaries that are FINRA members, a CFTC-registered swap dealer subsidiary, and a UK subsidiary authorized by the Financial Conduct Authority. Notably, the New York State Department of Financial Services recently granted a Galaxy subsidiary a BitLicense and a Money Transmission License to offer digital asset trading and custody services to institutions across New York State.

About Galaxy

Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, growing the economy that runs on code. Galaxy delivers the onchain infrastructure that connects institutions to digital assets, including trading, advisory, asset management, staking, self-custody, and tokenization. Galaxy also develops and operates data center infrastructure to power AI and HPC workloads. Anchored by its Helios campus in Texas, Galaxy is building a multi-gigawatt pipeline of more than 5.7 GW of potential capacity, positioning it among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com. 

CAUTION ABOUT FORWARD-LOOKING STATEMENTS

The information in this document may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended and "forward-looking information" under Canadian securities laws (collectively, "forward-looking statements"). Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future, including statements regarding the application to establish Galaxy National Bank, the timing and outcome of the OCC's review, the services Galaxy National Bank would offer and the effect of the application on our business. Statements that are not historical facts are forward-looking statements. In addition, any statements that refer to estimates, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this document are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to: (1) the risk that the OCC does not approve the application, approves it on different terms or subject to conditions, or takes longer than anticipated to act; (2) our ability to satisfy any conditions of approval, including capital, liquidity, governance, risk management and compliance requirements; (3) legal, legislative or other challenges to the OCC's authority to charter national trust banks, and changes in applicable laws, regulations or OCC policy; (4) our ability to build and operate a regulated trust bank, including compliance with custody, fiduciary, anti-money laundering and sanctions requirements; (5) changes or events that impact the AI/HPC and digital asset industry, including potential regulation, that are out of our control; (6) the risk that our business will not grow in line with our expectations or continue on its current trajectory; (7) liquidity or economic conditions impacting our business; (8) technological challenges, cyber incidents or exploits; and (9) those other risks contained in filings we make with the Securities and Exchange Commission (the "SEC") from time to time, including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 26, 2026 and available on Galaxy's profile at www.sec.gov, as such factors may be updated from time to time in our filings with the SEC, including without limitation, our Quarterly Reports on Form 10-Q.

Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. Except as required by law, we assume no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements.

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SOURCE Galaxy Digital Inc.

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