Mike Novogratz's Galaxy Digital jumps 10% after launching retail trading app to compete against Robinhood

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Galaxy Digital shares jumped astir 10% successful aboriginal trading Monday aft the integer assets concern steadfast led by CEO Mike Novogratz unveiled a Robinhood-like trading platform, GalaxyOne.

The level and mobile application, launched Monday, hosts commission-free buying and selling of much than 2,000 stocks and exchange-traded funds successful summation to cryptocurrencies specified arsenic bitcoin and ether, Galaxy Digital said successful a statement.

GalaxyOne besides offers respective yield-bearing accounts, including a 4% yearly percent output connected currency deposits and an 8% output concern enactment for accredited investors who enactment up a minimum of $25,000.

Galaxy shares person much than doubled this twelvemonth arsenic national regulators person softened their oversight of integer assets.

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