FINRA approves underwriter license for Galaxy Digital

Posted 25 July, 2019


Galaxy Digital trade bank has successfully received approval from US Financial Regulatory Authority to act as an underwriter. The press release was released on July 24. 

With this approval, the company managed to expand its dealer-broker unit Galaxy Digital Advisors LLC. As a result, the division will be able to become an underwriter to registered public offerings of equity, debt and other corporate bonds in the USA.

"This is an important step in the development of our advisory franchise. With this approval, we now can finance digital asset and blockchain technology companies through their entire life cycle – from founding, through private capital raisings, to their initial public offering and beyond," said Ian Taylor, Head of Advisory Services for Galaxy Digital. 

For reference, the company was able only to run private offerings as a placement agent and provide consulting services.

"We are excited to add this capability to the suite of services we provide. No other firm combines our expertise in digital asset and blockchain technology companies with the ability to structure, distribute, and now underwrite, financings..." said the company founder Michael Novogratz, 

The mentioned approval, as he added, will enable the bank to lure institutional-grade investors to the cryptocurrency segment. 

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