Flowdesk Omega FZE has received a full broker-dealer license from Dubai's Virtual Asset Regulatory Authority, the regulator said in an announcement. The license grants the firm authority to provide brokerage and dealing services in virtual assets within the emirate's jurisdiction.
Flowdesk had received in-principle approval from VARA in June 2026. The full license represents the next stage in Dubai's regulatory framework for crypto market infrastructure. VARA issues licenses in two stages: in-principle approval signals preliminary acceptance of an applicant's business plan and governance structure, while a full license permits operational launch.
Flowdesk was founded in 2021 and operates as a digital asset broker and market maker. The firm counts BlackRock, Cathay Innovation, and Coinbase Ventures among its backers. It has built operations across multiple jurisdictions, including Europe and Asia, and previously held a Markets in Crypto-Assets Regulation license in the EU.
Dubai's VARA began issuing licenses in 2023 following the emirate's decision to position itself as a regulated hub for crypto trading and custody. The regulator has issued full licenses to several firms since then, including exchanges Kraken and Crypto.com, and custodians like Copper and Hex Trust. The full broker-dealer license to Flowdesk marks at least the third major infrastructure provider to receive full operating status in Dubai.
Broker-dealer licenses in Dubai permit firms to execute trades on behalf of clients and manage order flow, distinct from exchange licenses which allow peer-to-peer matching. Flowdesk's license enables it to serve institutional clients seeking execution services without operating a public order book.
The firm's entry into Dubai comes as several exchanges and brokers have expanded regional operations in response to regulatory clarity in the emirate. Crypto.com, which received its full VARA license in 2024, has since opened a regional hub there. Kraken launched Dubai operations after its license in late 2023. Flowdesk had previously announced plans to expand in the region following its in-principle approval.
Flowdesk received its full license approximately two months after in-principle approval. Flowdesk is now authorized to onboard clients and begin broker-dealer operations under VARA's ruleset, which requires capital reserves, compliance infrastructure, and ongoing regulatory reporting.
