Galaxy Digital UK, a subsidiary of the digital asset financial services firm led by Mike Novogratz, has received approval from the Financial Conduct Authority (FCA) to expand its derivatives trading operations in the United Kingdom. This new license complements the company's existing presence on the FCA's crypto register since 2021.

With this authorization in hand, Galaxy Digital UK plans to not only enhance its derivatives trading but also utilize its FCA approval to offer capital raising and investment banking services through its Investment Banking arm. Furthermore, the subsidiary will support its asset management business by engaging in fund distribution activities.

Being listed on the FCA's investment firms register signifies that Galaxy Digital UK is permitted to conduct MiFID investment services and activities within the U.K. In line with other crypto companies establishing their foothold in London, such as Coinbase and Bitpanda, this expansion reflects Galaxy's commitment to bridging traditional finance with the digital asset ecosystem.

Leon Marshall, CEO of Galaxy Europe and Global Head of Sales, expressed enthusiasm about this achievement stating that "London is a critical financial hub," emphasizing how this milestone aligns with their mission. The U.K.'s growing appeal has also attracted major players like BlackRock, who recently joined its crypto register.

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.

• 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).

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.

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