- Galaxy Digital gains SEC approval to redomicile in Delaware, plans Nasdaq listing.
- Galaxy Digital aims for a Nasdaq listing by mid-May, pending approvals.
- Delaware shift boosts Galaxy Digital’s U.S. presence, targeting global crypto leadership.
Galaxy Digital, a well-known cryptocurrency investment firm, has received approval from the U.S. Securities and Exchange Commission (SEC) to redomicile in the United States. This significant milestone represents a major step for the company, which is looking to list on the Nasdaq stock exchange. The move is part of Galaxy Digital’s strategy to become a more active market participant in the U.S. financial market and a market leader in the global crypto industry.
Galaxy Digital Plans Nasdaq Listing by Mid-May
At present, Galaxy Digital is traded on the Toronto Stock Exchange (TSX). However, the company intends to list on Nasdaq by mid-May. Before that can be achieved, two major approvals will be required. First, the Toronto Stock Exchange must also approve. Second, shareholders of Galaxy Digital have to approve the redomiciling process. A special meeting of shareholders will take place on May 9 to make this decision.
Furthermore, the company intends to redomicile to the State of Delaware. Delaware is the home of a business-friendly environment as well as flexible corporate laws. It is because of the presence of favorable legal and tax conditions that such a large number of big businesses in the U.S. can be found there. Galaxy Digital believes that this move will open new opportunities for further growth and investors.
In one of the recent statements, the CEO of Galaxy Digital, Mike Novogratz, disclosed strong optimism for the future. He said the company is advancing into a new and exciting period. He also pointed out that Nasdaq listing and move to the U.S. would have the advantage of increased visibility, capital resources, and investor credibility. Novogratz says that these changes will enable Galaxy Digital to have a greater role in determining the future of digital finance.
Moreover, Galaxy Digital assumes that if the company is listed on Nasdaq, there will be a new market of potential investors, including institutional and retail investors. Nasdaq is a big U.S. exchange, particularly famous for its specialization in technology and innovation. Inclusion there would make Galaxy Digital a player among players, and this would give it considerable publicity.
Galaxy Digital Eyes Central Role in Crypto Ecosystem
At the same time, the move from Canada to the U.S. reflects the increased commitment the company is showing to the American market. The U.S still is a major hub for financial services and digital assets. Galaxy Digital plans to shift its legal structure to Delaware in order to better relate to American investors, regulators, and business partners.
At the same time, the world’s need for digital assets and blockchain-based services grows. This is a significant opportunity that Galaxy Digital perceives. Despite an impressive history and a definite long-term direction, the firm is in a good position to enjoy the benefits of this developing trend.
Finally, Galaxy Digital’s initiative to redomicile to the U.S. and pursue a Nasdaq listing is an indication of its aspiration to become a central player in the developing digital asset ecosystem. As long as all goes to plan, the company will soon be headquartered in Delaware and traded publicly in the U.S. by mid-May. This move might be the start of a new and promising chapter in Galaxy Digital’s expedition.
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