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Galaxy Secures UK Approval for License to Expand Derivatives Trading
The company is on the Financial Conduct Authority's investment firms register which is for firms that are authorized to perform MiFID investment services.
What to know:
- Galaxy Digital UK's application for a license to execute derivatives trading in the U.K. has been approved by the Financial Conduct Authority (FCA).
- The company, which already landed on the crypto register in 2021, can now deepen its presence in the U.K.
Galaxy Digital UK, the subsidiary of Mike Novogratz-led digital asset financial services firm's application for a license to execute derivatives trading in the U.K. has been approved by the Financial Conduct Authority (FCA).
STORY CONTINUES BELOW
The firm's Investment Banking arm will also use Galaxy Digital UK’s FCA authorization to provide capital raising and investment banking services, according to a statement on Wednesday. The Galaxy U.K. subsidiary will also support its asset management business with fund distribution activities.
Galaxy Digital UK is on the FCA's investment firms register, which is for firms authorized to perform MiFID investment services or activities. Galaxy also joined the FCA's crypto register in 2021.
“London is a critical financial hub, and this authorisation allows us to deepen our presence in the U.K., aligning with our mission to bridge traditional finance with the digital asset ecosystem,” Leon Marshall, CEO of Galaxy Europe and Global Head of Sales said.
The U.K. has attracted crypto companies like Coinbase, Bitpanda and most recently assigned BlackRock a slot on its crypto register.
Camomile Shumba
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.
Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.
