Key facts
- Flowdesk has obtained a full broker-dealer license in Dubai.
- The license for Flowdesk was issued by the Virtual Assets Regulatory Authority (VARA).
- Flowdesk is backed by Coinbase Ventures and BlackRock.
- Flowdesk can now offer regulated services to institutional investors in Dubai.
- ARP Digital has secured a broker-dealer license from Dubai's VARA.
- ARP Digital is an institutional digital asset infrastructure provider.
- ARP Digital can offer regulated conversions between digital assets and UAE dirhams.
- The licenses allow firms to operate within a defined regulatory environment in Dubai.
Flowdesk, a crypto market maker with backing from Coinbase Ventures and BlackRock, has received a full broker-dealer license in Dubai from the Virtual Assets Regulatory Authority (VARA). This license permits Flowdesk to provide regulated services to institutional investors within the Dubai region. The expansion into Dubai signifies a strategic move for Flowdesk to enhance its operational capabilities and market reach in the Middle East.
Similarly, ARP Digital, an institutional digital asset infrastructure provider, has also been granted a broker-dealer license by Dubai's VARA. This authorization enables ARP Digital to conduct regulated conversions between digital assets and the UAE dirham. The acquisition of this license is expected to bolster ARP Digital's presence and service offerings across the Gulf.