Flowdesk Secures Crypto Brokerage License in Dubai

Flowdesk Omega FZE, a subsidiary of French-headquartered Flowdesk, has received a crypto brokerage dealer license from Dubai's Virtual Asset Regulatory Authority (VARA). This is a significant milestone for the company, which is backed by major investors such as BlackRock and Coinbase Ventures. Flowdesk will now be able to offer digital asset services to qualified and institutional investors in Dubai.

The license was granted after an in-principle approval received just two months ago in June 2023. Guilhem Chaumont, co-founder and CEO of Flowdesk Group, noted that the VARA license is a defining milestone for the company. He stated, “VARA has built one of the world's clearest and most ambitious frameworks for virtual assets, and this license allows us to bring that same rigor to how we serve institutional and qualified clients in the region.”

Flowdesk has been expanding its presence in the UAE and has already raised $102 million in investments in March 2023. The company is now regulated not only in Dubai but also in Europe, with a Crypto-Asset Service Provider (CASP) license from l'AMF in France under MiCA.