STUDY RECORD · last re-checked 2026-09
Galaxy Digital — institutional liquidity provider
Founded in 2018, Galaxy Digital Inc. operates as a public company and is licensed in both the US and UK. It serves a diverse range of institutional clients with a focus on OTC and electronic trading in digital assets. While it claims to have substantial trading metrics, these figures are self-measured and should be approached with caution.
Galaxy Digital Inc. (public company; SEC EDGAR CIK 1859392). US arms: Galaxy Digital Partners LLC (broker-dealer), Galaxy Digital Capital Management LP (investment adviser). UK: Galaxy Digital UK Limited. · New York City, United States · evidence score 89/100
Licence, read on the register
| Regulator | Licence number | Jurisdiction | Tier | Source |
|---|---|---|---|---|
| FCA | 1007925 | UK | tier-1 | open source ↗ |
| SEC/FINRA (BrokerCheck, Galaxy Digital Partners LLC) | 8-70001 | US | tier-1 | open source ↗ |
Tier classification follows the same scale as the retail register: tier-2 means real supervision and client-money segregation, without an investor compensation scheme — never misread it as tier-1 protection.
What this record teaches
Four reading skills, each anchored to something the firm actually published.
- 01 — Teaching pointGalaxy Digital operates as a tier 1 institutional liquidity provider in the digital asset space.
- 02 — Teaching pointThey serve over 1,700 trading counterparties globally, including banks and institutional investors.
- 03 — Teaching pointThe company offers OTC trading, derivatives, lending, and investment banking services.
Claims ledger
Claims specific enough to be falsified — and the ones that remain the venue's own measurement.
Testable claims
- Own global-markets page states Galaxy Global Markets offers institutional access to OTC and electronic trading, 'operating one of the largest OTC crypto derivatives trading desks', with metrics: 'TRADING COUNTERPARTIES 1.7K+', '50+ Licenses', 'AVERAGE LOAN BOOK SIZE $1.4B in Q2 2026', and 'regulated by the SEC, FINRA, NFA, CFTC, and FCA' (galaxy.com/global-markets, checked 10 Sept 2026)
- Own newsroom capital/liquidity update: 'The Company is headquartered in New York City, with offices in Chicago, Jersey City, London, Amsterdam, Tokyo, Hong Kong, and the Cayman Islands (registered office)' (galaxy.com/newsroom/galaxy-digital-provides-updated-capital-and-liquidity-position)
- Own global-markets page: 'As a public company, Galaxy is promoting the responsible institutional adoption of digital assets and blockchain technology since 2018' — public-company status separately confirmed live on SEC EDGAR (CIK 1859392, Galaxy Digital Inc.)
Claims we cannot verify from outside
- '50+ Licenses' and 'one of the world's leading institutional liquidity providers in the digital asset space' are own marketing metrics without a licence register breakdown
- 'one of the largest OTC crypto derivatives trading desks' is self-measured
Perimeter and coverage
| Asset classes | Venues | Connectivity | Clients accepted | Explicitly refused |
|---|---|---|---|---|
| Digital-asset spot & OTC, Crypto derivatives, Digital-asset lending & structured products, Staking, Investment banking (digital assets) | Galaxy Global Markets (OTC + electronic trading), GalaxyOne (technology platform) | API/electronic trading, High-touch OTC coverage | Institutional investors, 1.7K+ trading counterparties across 3 continents (own metrics), Banks (BNY infrastructure partnership per own newsroom) |
A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to diligence than one that doesn't. The refusal list is treated here as a disclosure, not a defect.
Self-check
Answer these before you consider the record read. If you cannot, re-read the licence and the claims ledger — the answers are all in what the firm published.
- What types of clients does Galaxy Digital primarily serve in the digital asset market?
- Which regulatory bodies oversee Galaxy Digital's operations in the US and UK?