Galaxy Digital UK Receives FCA Approval for Derivatives Trading License
Galaxy Digital UK, the British subsidiary of the digital asset financial services firm led by Mike Novogratz, has recently achieved a significant milestone with the approval of its application for a license to execute derivatives trading in the United Kingdom by the Financial Conduct Authority (FCA). This pivotal approval will enable Galaxy Digital UK to broaden its scope of operations in the vibrant U.K. financial landscape.
In addition to facilitating derivatives trading, the firm’s Investment Banking division plans to leverage this FCA authorization to provide essential capital raising and investment banking services. This strategic move aims to enhance the firm’s offerings in the U.K. market, as stated in a press release issued on Wednesday.
Moreover, Galaxy Digital UK is now included in the FCA’s investment firms register, which is designated for firms authorized to carry out MiFID investment services and activities. The firm had previously joined the FCA’s crypto register in 2021, further solidifying its commitment to regulatory compliance in the rapidly evolving digital asset sector.
Leon Marshall, CEO of Galaxy Europe and Global Head of Sales, remarked, “London is a critical financial hub, and this authorization allows us to deepen our presence in the U.K., aligning with our mission to bridge traditional finance with the digital asset ecosystem.” His statement underscores the strategic importance of the U.K. market for Galaxy Digital’s growth and expansion.
The United Kingdom has become an attractive destination for various cryptocurrency companies, including notable players such as Coinbase, Bitpanda, and most recently, BlackRock, which has been assigned a position on the FCA’s crypto register. This trend highlights the U.K.’s evolving regulatory landscape and its appeal to innovative financial firms looking to establish a foothold in the digital asset space.
