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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).
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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.
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The U.K. has attracted crypto companies like Coinbase, Bitpanda and most recently assigned BlackRock a slot on its crypto register.
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