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The Financial Conduct Authority of the United Kingdom has continued to issue licences to firms seeking to offer crypto related services; in a most recent development, it has approved Galaxy Digital, the investment firm headed by Michael Novogratz, to offer its derivatives services in the region.
The X post from Galaxy, dated April 02, 2025, says that its London-based entity can now offer derivative trading in the UK as it has secured approval from the FCA.
A published report argues that crypto adoption in the United Kingdom has reached a peak, with around 7 million adults involved in digital assets in some way.
Therefore, companies getting approval in the United Kingdom are expected to grow fast as the nation has one of the finest sets of rules for the crypto market, opening paths for firms to serve a massive user base while remaining under the structure of the Financial Conduct Authority.
Galaxy can also offer capital raising & advisory services in the UK
The same post also notes that this company is now ready to offer capital raising and advisory services, and also to support its asset management business. According to available data, Galaxy Digital managed around $5 billion in assets until October last year.
Experts see this approval as a milestone for Galaxy Digital in its aim of global expansion; it is worth noting that the founder of the firm is among the known crypto moguls in the wider crypto market.
The Global head of sales and the CEO of Galaxy Digital Europe, Leon Marshall, said, “ Obtaining FCA authorisation is a pivotal achievement for the Galaxy group, as it allows us to deliver innovative trading solutions to institutional clients while maintaining the highest regulatory standards.”
Marshall added, “ London is a critical financial hub, and this authorization allows us to deepen our presence in the UK, aligning with our mission to bridge traditional finance with the digital asset ecosystem.”
He concluded, noting that “ The UK’s approach to creating a stable and forward-thinking regulatory framework for crypto assets positions it as a leader in the global digital asset landscape.”
Market volatility report
Until publishing, the crypto fear and greed index was at 24 with a growing fear; the number was 29 on April 03 and was mirroring fading fear.
At the same time, the crypto market cap was down by 1.01% and is now at $2.67 trillion, and volume was $129.84 billion, registering a growth of 65%.
The growth in volume is simply indicating the dominance of bears resulting in panic selling; in the past 24 hours, the volume of Bitcoin was $53.17 billion, up by 83.43%, and at the same time price fell 1.29%, exchanging hands at $83,209.
According to CoinMarketCap, the losers of the Intraday frame are Cronos, Official Trump, PI, Bonk, and Ethena; on the other hand gainers are Story, Cosmo, Litecoin, Mantra, and Core.
