Galaxy Digital has gained regulatory support as the UK’s Financial Conduct Authority has approved a license for its subsidiary, Galaxy Digital UK Limited.
This FCA license enables Galaxy Digital to broaden its derivatives trading offerings to clients in the U.K. from its office in London. Galaxy Investment Banking will also leverage this license to provide capital raising and investment banking services in the U.K., as stated in a recent announcement.
The FCA’s approval further permits Galaxy Digital, established by crypto entrepreneur Mike Novogratz, to enhance its asset management operations through the regulated subsidiary.
“Securing FCA authorization marks a significant milestone for the Galaxy group, as it enables us to deliver innovative trading solutions to institutional clients while adhering to the highest regulatory standards. London is a vital financial center, and this approval permits us to strengthen our foothold in the U.K., aligning with our goal of connecting traditional finance with the digital asset ecosystem,” said Leon Marshall, CEO of Galaxy Europe.
This license contributes to Galaxy Digital’s expanding regulatory presence, with the New York-based firm serving over 1,300 institutional trading counterparts. Its international reach includes offices in locations such as Chicago, Hong Kong, and Tokyo.
As crypto regulations continue to evolve, both in the U.K. and throughout Europe with the European Union’s Markets in Crypto Assets regulations, Galaxy views the FCA license as a key achievement that enhances its compliance initiatives. It also positions the firm to better meet the increasing demand from a rapidly growing institutional investor base.
“The UK government’s strong emphasis on attracting innovative capital has created a favorable environment for the development of transformative technologies like digital assets. This clarity is attracting top talent, investment, and innovation to the area, supported by the country’s rich talent pool, prestigious academic institutions, and entrepreneurial spirit,” added Marshall.
Galaxy Digital was recently highlighted in the news due to a $200 million settlement announced by the New York Attorney General concerning the firm’s association with LUNA.
The company has also garnered positive attention following its announcement of a 15-year hosting deal for artificial intelligence with CoreWeave.