Robinhood wins DFSA approval for Dubai crypto and stock trading

What happened

Robinhood Markets said on Oct. 22 that the Dubai Financial Services Authority had authorized it to run a retail investing business in the Middle East. The permission covers trading and custody for 10 DFSA-approved asset classes, including bitcoin and other cryptocurrencies, stocks, exchange-traded funds and investment tokens. Robinhood plans to launch its full suite in 2027.

The business will operate from the Dubai International Financial Centre, which will also serve as Robinhood's Middle East and North Africa headquarters. Salah Kaddoura has been named senior executive officer and president of Robinhood MENA, a DFSA-recognized role, and will build the Dubai team before launch. CEO Vlad Tenev described the DIFC as a major global financial hub and said the expansion supports Robinhood's goal of a worldwide platform, Bitcoin Magazine reported.

CoinGape reported that the approval followed a DFSA Category 4 license application and a meeting last year between Tenev and DIFC President Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. Robinhood has not disclosed launch countries, pricing or the definition of eligible investors.

Why it matters

The license covers custody as well as trade execution. Bitcoin Magazine noted that the DFSA cleared Robinhood to hold client digital assets, not just route orders. For a company that took years to enable bitcoin withdrawals in the US, winning custody permission from the start in a new jurisdiction shows how its crypto operation has matured. Dubai is also competitive: the DIFC listed 72 authorized brokerages as of March 31, and crypto-native exchanges hold licenses from the separate Virtual Assets Regulatory Authority.

The Dubai base extends Robinhood's international push. The company says it has more than one million customers outside the US. NewsBTC noted that authorization comes before customer availability and that a regional headquarters does not mean every product will be available to every resident of every nearby country. Eligibility and terms for each offering will determine the addressable market.

What the data shows

The authorization covers 10 asset classes. Robinhood targets a 2027 launch, the DIFC had 72 authorized brokerages as of March 31, and Robinhood says it serves more than one million customers outside the US. Its $25 million bitcoin purchase was disclosed on Oct. 7.

Background

Robinhood entered the UK in 2024, opened full EU operations last year, won in-principle approval for brokerage services in Singapore in April and completed its purchase of Canadian crypto platform WonderFi in June. In September it added weekend trading and perpetual futures in the US. Johann Kerbrat, who runs crypto and international operations, disclosed on Oct. 7 that Robinhood had put $25 million of bitcoin on its own balance sheet, its first corporate BTC holding.

Dubai's financial center has kept attracting global firms. The DIFC passed 10,000 active registered firms this year, with Citadel among them, and in March opened towers with 600,000 square feet of commercial space, including Deutsche Bank and Moody's as tenants, according to Bloomberg. Maven said it would close its New York office as it shifts toward Dubai. Kraken secured full Dubai VARA approval through Payward earlier in October, CoinGape reported.

What to watch

Prospective customers will need product documentation before the 2027 rollout. NewsBTC noted that trading and custody are separate functions and that products shown side by side may use different custodians, settlement processes or contractual protections. It also pointed to costs beyond headline commissions, including currency conversion, deposits and withdrawals.

Robinhood's disclosure of launch countries, pricing and eligible-investor rules will be the clearest sign of how large the Middle East business can become. The company has given a timetable and a regulatory milestone; the working service and its terms will show how those translate into access.

Questions readers ask