Galaxy Digital Launches GalaxyOne App With 4%-8% Yield, Challenging Robinhood and Coinbase

Galaxy Digital shares surged 8% in premarket trading following the launch of GalaxyOne, a comprehensive investment platform offering retail investors integrated access to cash, cryptocurrency, and equity investments with yield generation as its central feature. The new platform provides FDIC-insured high-yield cash accounts delivering 4% annual returns for standard deposits and up to 8% for accredited investors through Galaxy Premium Yield, supported by the company's $1.1 billion institutional lending operations. GalaxyOne enables trading across major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), alongside US-listed stocks and ETFs, while featuring automated earnings reinvestment capabilities. This strategic move positions Galaxy in direct competition with established retail trading platforms Robinhood (HOOD) and Coinbase (COIN), both of which saw 2% premarket gains amid broader market optimism. Galaxy's expansion into consumer-facing services marks a significant evolution for the traditionally institutionally-focused firm, which has seen its stock price double since its Nasdaq listing in May. The company has announced plans to introduce additional features including business accounts, crypto staking services, and expanded lending products in the near future.