Galaxy gets UK licence approval to expand derivatives trading
Author: Camomile Shumba | Edited by: Aoyon Ashraf Updated: April 2, 2025, 5:51 PM Published: April 2, 2025, 5:51 PM
Galaxy Digital UK, a subsidiary of digital asset financial services firm Mike Novogratz, has had its application for a UK derivatives trading licence approved by the Financial Conduct Authority (FCA).
The company’s investment banking arm will also use Galaxy Digital UK’s FCA authorisation to provide capital raising and investment banking services, according to a statement on Wednesday. The Galaxy UK subsidiary will also support its asset management business through fund distribution.
Galaxy Digital UK is registered on the FCA’s Investment Firms Register, which is for entities authorised to carry out investment services or MiFID activities. Galaxy also joined the FCA’s crypto register in 2021.
“London is a key financial centre and this approval allows us to deepen our presence in the UK, which is in line with our goal of integrating traditional finance with the digital asset ecosystem,” said Leon Marshall, CEO of Galaxy Europe and Head of Global Sales.
The UK has attracted a number of crypto companies such as Coinbase, Bitpanda, and recently gave BlackRock a place on its crypto register.
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