Flowdesk unit wins full broker-dealer license in Dubai

Dubai’s Virtual Assets Regulatory Authority granted a full broker-dealer license on Tuesday to Flowdesk Omega FZE, the local unit of institutional market maker Flowdesk, allowing the firm to provide regulated broker-dealer services to qualified and institutional investors in and from Dubai.

Flowdesk, which counts Coinbase Ventures and BlackRock among its backers, said the license permits its Dubai entity to act as a regulated intermediary for institutional clients, offering trading and related broker-dealer services under VARA’s framework.

The authorization follows Flowdesk’s recent registration in France as a Crypto-Asset Service Provider under the European Union’s Markets in Crypto-Assets rules. The firm has expanded regulated operations across multiple jurisdictions to serve institutional counterparties under local licensing regimes.

Broker-dealers provide market liquidity and execute transactions on behalf of clients. In digital-asset markets they can also arrange custody, support compliance processes and enable access to regulated trading venues for institutional participants.

Other firms in the market have pursued similar licences. Earlier this month Wintermute launched a U.S. broker-dealer to expand into trading stocks and options. Digital asset custodian BitGo and securities operator OTC Markets announced plans to provide trading and custody infrastructure for more than 150 broker-dealers using OTS Link ATS.

VARA issues licences for firms offering virtual-asset services under rules designed to bring such activity into a regulated environment. The Dubai approval allows Flowdesk Omega FZE to deliver regulated broker-dealer services specifically to qualified and institutional investors operating in or from the emirate.