Galaxy Digital is moving closer to a US stock exchange listing after Securities and Exchange Commission (SEC) approved its registration declaration tied to a company’s reorganization.

The Crypto and AI infrastructure company, currently listed in the Toronto Stock Exchange, aims to move its home base from the Cayman Islands to Delaware and list shares on Nasdaq as “Glxy.” The company’s expansion to the US market comes when the institutional demand for regulated crypto products continues to grow.

The company has planned a shareholder vote on the reorganization on May 9. The company is expected to list shortly after. CEO MIKE NOVOGRATZ called the registration efficiency “an important milestone” in the company’s bid to extend the range.

Galaxy provides institutional services in crypto trading, asset management and tokenization. It also invests in and operates data centers that operate AI and high performance computing.

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