The advent of cryptocurrencies is triggering the creation of innovative business concepts and new Bitcoin-based financial instruments. Now, Michael Novogratz is starting a merchant bank, to be named Galaxy Digital, which will exclusively serve the cryptocurrency and blockchain space.
Merchant Bank Dedicated to Cryptocurrencies to Reshape the Finance World
Michael Novogratz, Chairman and Chief Executive Officer of Galaxy Investment Partners, is planning to establish and make public the first merchant bank that will focus on cryptocurrencies and blockchain-related ventures.
Novogratz has already proposed a Transaction to establish Galaxy Digital as a full service, digital assets merchant bank, which will concentrate in the following areas: distinct trading, asset management, principal investment, and advisory work.