Galaxy Receives Approval in the UK for Expanding Derivatives Trading
The company is now on the Financial Conduct Authority’s investment firms register, which is for entities authorized to perform MiFID investment services.
What to know:
- Galaxy Digital UK has successfully had its application for a derivatives trading license approved by the Financial Conduct Authority (FCA).
- This move allows the company to enhance its operations in the U.K.
Galaxy Digital UK, the branch of the digit asset firm led by Mike Novogratz, has been granted authorization by the FCA to engage in derivatives trading in the U.K. The firm also aims to use this authorization to provide investment banking services.
According to a statement issued recently, the Galaxy U.K. subsidiary will also bolster its asset management division through fund distribution activities.
Galaxy is now included in the FCA’s investment firms register, which indicates it is authorized to conduct MiFID investment activities. The firm was already on the FCA’s crypto register since 2021.
“London is a critical financial hub, and this authorization allows us to deepen our presence in the U.K., aligning with our mission to bridge traditional finance with the digital asset ecosystem,” said Leon Marshall, CEO of Galaxy Europe.
The U.K. continues to attract crypto enterprises such as Coinbase, Bitpanda, and recently, BlackRock has been assigned a slot on the crypto register.
