DVA and Flowdesk Secure VARA VASP Licenses for Broker-Dealer Services

Dubai’s regulated virtual asset market has added two new broker-dealer operators, with Diment VA Exchange Services DMCC (DVA) and Flowdesk Omega FZE receiving active VASP licenses from the Virtual Assets Regulatory Authority (VARA).

VARA’s public register shows that both companies received their VASP licenses on August 7, 2026, authorizing them to conduct Broker-Dealer Services in Dubai.

The two approvals add new regulated broker-dealer capacity to Dubai's virtual asset market, with both companies receiving the same VASP authorization and permission to serve institutional, qualified and retail investors.

The simultaneous approvals are notable because they bring two companies with different regulatory timelines into the same licensed activity. Diment has been working toward a full VARA authorization since its initial approval in 2024, while Flowdesk moved from an In-Principle Approval in June 2026 to a full license within two months.

DVA completes a two-year regulatory path

DVA is a UAE-based virtual asset broker-dealer focused on delivering regulated access to digital asset markets. The company is building an evolving digital asset infrastructure that integrates brokerage, liquidity connectivity and execution tools within a single scalable platform.

DVA received its Initial Approval from VARA in April 2024, when the company said it was preparing to establish itself as a broker-dealer platform in Dubai.

At the time, DVA stressed that the Initial Approval did not allow it to commence virtual asset activities in or from Dubai and that it was still working toward obtaining a full VASP license. The company said its objective was to establish a regulated gateway to virtual assets for users in the region and internationally.

More than two years later, VARA’s public register shows that DVA has moved beyond that preliminary stage.

Its active VASP license now authorizes Broker-Dealer Services and permits the company to serve institutional, qualified and retail investors. The progression illustrates the distinction between an initial regulatory approval and an operational VASP authorization under VARA’s framework.

Flowdesk moves from IPA to full license

Flowdesk followed a considerably shorter path to its full authorization.

On June 8, 2026, the company announced that its Dubai entity, Flowdesk Omega FZE, had received an In-Principle Approval from VARA for Broker-Dealer Services. The IPA allowed the company to progress toward a full license and prepare for operations while satisfying VARA’s remaining conditions.

Two months later, the company announced that Flowdesk Omega had received its full VARA license.

Flowdesk described the authorization as completing the multi-stage licensing process and said it would enable its Dubai entity to provide regulated broker-dealer services. The company also highlighted its existing European regulatory footprint, including its authorization as a Crypto-Asset Service Provider under the EU’s MiCA framework.

Flowdesk is a global digital asset trading and technology firm focused on liquidity solutions and OTC trading. The company says it provides infrastructure to institutional clients and digital asset issuers and operates across more than 150 exchange venues globally.

What the two licenses signal for Dubai’s market

The simultaneous approvals point to the continued expansion of regulated brokerage infrastructure within Dubai’s virtual asset market.

The significance is also in the type of businesses receiving the authorization. DVA has spent years building toward a Dubai-based regulated broker-dealer model, while Flowdesk is extending an established global trading and liquidity business into the UAE through a locally licensed entity.

For Dubai, the development adds two more active VASPs to a market where firms seeking to provide virtual asset services must operate within VARA’s regulatory framework outside the Dubai International Financial Centre.

The two licenses also illustrate how companies at different stages of regional expansion can converge on the same regulatory pathway: DVA after a multi-year progression from Initial Approval, and Flowdesk after receiving its IPA only in June.

Rather than marking the launch of identical businesses, the approvals show the growing range of digital asset firms seeking regulated access to Dubai’s market — from dedicated broker-dealer platforms to global trading and liquidity providers.

With both licenses now active, the next phase will be the companies’ transition from regulatory authorization to the provision and expansion of their licensed services in the UAE.