The application for a derivatives trading license in the U.K. put forward by the subsidiary of the digital asset financial services company led by Mike Novogratz has received approval from the Financial Conduct Authority (FCA).
The Investment Banking division will leverage Galaxy Digital UK’s FCA authorization to offer capital raising and investment banking services. Additionally, the U.K. entity will enhance its asset management operations through fund distribution activities.
Galaxy Digital UK is listed on the FCA’s investment firms register, which includes firms permitted to offer MiFID investment services or activities. It also joined the FCA’s crypto register back in 2021.
Leon Marshall, CEO of Galaxy Europe and Global Head of Sales, commented, “London is a key financial center, and this authorization enables us to strengthen our presence in the U.K., which aligns with our goal to connect traditional finance with the digital asset ecosystem.”
Recently, the U.K. has become a favorable destination for crypto enterprises such as Coinbase and Bitpanda, and has included BlackRock in its crypto register.