Coinbase-backed Flowdesk secures full broker-dealer license in Dubai
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Flowdesk, an institutional crypto market maker supported by Coinbase Ventures and BlackRock, has obtained a full broker-dealer license in Dubai. This license was granted by Dubai’s Virtual Assets Regulatory Authority to Flowdesk’s local entity, Flowdesk Omega FZE, enabling it to provide regulated broker-dealer services to qualified and institutional investors in and from Dubai.
Why it matters
The license allows Flowdesk to expand its regulated services in Dubai, supporting institutional investors in the emirate. The development reflects the growing importance of broker-dealers in the crypto market, who facilitate liquidity, custody, and regulatory compliance between traditional finance and digital assets.
Key context
Flowdesk’s license in Dubai follows its recent authorization as a Crypto-Asset Service Provider in France under the European Union’s Markets in Crypto-Assets framework. The article also notes similar moves by other firms like Wintermute, which launched a US broker-dealer, and BitGo and OTC Markets, which plan to support more than 150 broker-dealers with digital asset trading and custody infrastructure.
Key numbers and entities
Flowdesk, Coinbase Ventures, BlackRock, Dubai’s Virtual Assets Regulatory Authority, Flowdesk Omega FZE, France’s Markets in Crypto-Assets framework, Wintermute, BitGo, OTC Markets, OTS Link ATS. No specific financial figures were disclosed.
What remains unclear
The source does not flag open questions or provide additional details on the scope of services Flowdesk will offer in Dubai or on the timeline for operational launch under the new license.