Galaxy Digital reveals plans of ‘aggressively’ expanding in Europe

Galaxy Digital reveals plans of ‘aggressively’ expanding in Europe

By Wajeeh Khan - min read
Updated 06 May 2024
galaxy digital to aggressively expand in europe
  • Galaxy Digital names Leon Marshall its head of Europe operations.
  • The crypto company had recently partnered with DWS in Europe.
  • Galaxy Digital shares are down about 30% versus their YTD high.

Galaxy Digital just revealed plans of expanding its footprint in Europe. Its shares are keeping about flat at writing.

Leon Marshall to head Galaxy’s European operations

On Thursday, the blockchain company named Leon Marshall the Chief Executive of its European operations. He has previously served as an executive at Genesis.

Marshall has been tasked with seeking opportunities and leading the digital assets platform further into Europe. He will remain its global head of sales as well.

Earlier this year, the New York based firm announced a strategic alliance with DWS on digital assets ETPs – exchange-traded products. The asset manager will eventually work with Galaxy Digital on other digital asset solutions as well.

“GLXY” is currently down about 30% versus its year-to-date high at writing.

Europe is turning more attractive for crypto companies

MiCA or Markets in Crypto-Assets Regulation that the European Union approved this year makes it attractive for cryptocurrency companies. Michael Novogratz – the Founder of Galaxy Digital said today:

We’re thrilled to name Leon as CEO of Europe, a region critically important to our growth strategy. He’ll be invaluable as we scale our operations in U.K. and continental Europe aggressively.

Blockchain firms have also been turning recently to other crypto-friendly countries including the United Arab Emirates and Singapore due to a lack of regulatory clarity in the United States.

Earlier in September, the CEO of Ripple Labs – Brad Garlinghouse blasted the U.S. regulators for doing “nothing” to alleviate the situation as he announced plans of expanding in Europe.