Robinhood Secures Approval for Crypto Trading in Dubai, Plans 2027 Launch

Robinhood Markets has announced that it has obtained authorization from the Dubai Financial Services Authority (DFSA) to provide retail trading and custody services across ten asset classes, including cryptocurrencies, equities, and exchange-traded funds. The company plans to launch its services in 2027 from its new headquarters at the Dubai International Financial Centre (DIFC).

Salah Kaddoura has been appointed as the senior executive officer and president of Robinhood MENA, tasked with building the local team ahead of the launch. Robinhood’s CEO, Vlad Tenev, emphasized that this expansion is a significant step towards creating a global platform that allows individuals to access high-quality financial assets.

This move is part of Robinhood's broader strategy to expand internationally, following its recent entries into markets such as the UK, EU, Singapore, and Canada. The company has over one million customers outside the U.S., and the DIFC's growing reputation as a financial hub is seen as a strategic advantage for Robinhood.

Notably, the DFSA's approval allows Robinhood to hold client digital assets, marking a significant evolution in its crypto operations. However, the competitive landscape in Dubai is robust, with 72 authorized brokerages already operating in the DIFC, and several crypto-native exchanges holding licenses from the Virtual Assets Regulatory Authority.

As Robinhood prepares for its launch, key details such as the specific asset offerings, pricing, and definitions of eligible investors remain to be clarified, which will ultimately shape its market entry strategy.