Galaxy Digital Expands into Crypto Trading with Two Acquisitions

Galaxy Digital Holdings Ltd. has acquired two leading cryptocurrency trading firms: DrawBridge Lending, a provider of digital asset lending, borrowing, and structured products, and Blue Fire Capital. The latter is a trading firm that focuses on liquidity for digital assets.

The acquisitions come at a time where there is an uptick in interest from institutional investors seeking exposure to cryptocurrency-related financial products and services.

“Institutional investors and corporates are becoming more knowledgeable and comfortable with digital assets and they are increasingly grasping the purpose and importance of cryptocurrency in their investment strategies,” says Galaxy CEO Michael Novogratz.