Galaxy Digital shares increased 8% in trade prior to trade on Monday when the company launched Galaxyone, a mobile and web platform built to provide retail investors accessing a combination of investment tools in cash, crypt and capital, with nucleus performance.
The application provides users to access high performance cash accounts secured by the FDIC, the cryptocurrency trade and the US shares and the funds quoted in the stock exchange (ETF), the company announced in a press release. Galaxy says that he is offering annual 4% yields in regular cash deposits and up to 8% for accredited investors through their Galaxy Premium Brinding product. Both rates are driven by the company’s institutional loan business, which manages a loan book of more than $ 1.1 billion.
Beyond passive performance, Galaxyone users can exchange digital assets such as Bitcoin ether and Solana as well as actions listed in the main exchanges of the USA. UU. Galaxy also offers an automated reinvestment of cryptography or effective profits, with the aim of simplifying compound 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 US. UU., Both have launched new services this year, including cryptographic stagnations, margin trade and retirement retirement accounts, since they try to block more users and increase the assets on their platforms.
Hood and Coin are quoted approximately 2% more on trade prior to the market along with a general increase in actions of actions and cryptographic.
The Galaxy movement is notable in part due to its institutional background. The company was made public in Nasdaq in May and its shares have increased 100% from the list. Originally based on Fierce’s infrastructure, a Fintech Galaxy platform acquired last year, Galaxyone points out a broader impulse in the finances of consumers of a historically focused company on institutional clients.
Galaxy said there are more functions on the way, including commercial accounts, cryptographic parts and extended loan products.
