Galaxy Digital UK Ltd, a subsidiary of Galaxy Digital, has secured approval from the UK’s Financial Conduct Authority (FCA) to execute derivatives trading through its London office. This milestone marks a significant expansion of Galaxy’s global trading operations and strengthens its commitment to operating within the laid-down regulatory frameworks.
FCA’s License Opens Trading Opportunities
The FCA approval enables Galaxy Digital UK to provide innovative trading solutions to institutional clients while maintaining the highest regulatory standards. This license also allows Galaxy Investment Banking to offer capital raising and investment banking services from the London office.
Furthermore, Galaxy Digital UK will support the Galaxy Asset Management business with fund distribution activities. With over 1,300 institutional trading counterparties and global offices across North America, Europe, and Asia, this FCA license reinforces Galaxy’s position as one of the largest derivatives players in the digital assets ecosystem.
Galaxy Digital UK has its roots in Galaxy Digital, founded by Michael Novogratz in January 2018. The company aimed to become a leading player in the digital assets ecosystem. Galaxy Digital UK Limited was incorporated on August 3, 2018.
UK Favours Institutional Investments
The UK’s straightforward approach to regulating crypto assets has made it a much sought-after hub for many firms in the industry. The government’s efforts to attract new investment have created a supportive environment for innovative technologies like digital assets to grow. This clarity attracts top professionals, investment, and innovation.
Like Galaxy Digital, other institutions have expanded their business operations into the UK financial market. For example, BlackRock recently secured authorization to offer crypto services in the country. With approval from the UK’s FCA, BlackRock can operate its new European Bitcoin exchange-traded product (ETP) as a UK entity.
This move enables the company to expand its crypto offerings within the UK market, joining established companies such as Coinbase, PayPal, and Revolut. BlackRock’s UK entry represents a significant milestone in the broader acceptance of cryptocurrencies, as the company’s involvement is anticipated to attract a new wave of institutional investors. Rephrase with different words.
