Robinhood has secured a license from the Dubai Financial Services Authority to provide retail investment services across the Middle East. The company established its regional headquarters in the Dubai International Financial Centre. Despite the regulatory approval, the platform is not scheduled to launch its products in the region until 2027.
The license granted to Robinhood MENA Limited covers 10 asset classes, including stocks, ETFs, crypto, and investment tokens. While the company claims broad authorization, the public register specifies permissions for arranging trades, including futures and options. The entity is led by Salah Kaddoura.
The regional market is currently served by 72 brokers operating within the DIFC, an increase from 49 in 2022. Established competitors such as eToro, Interactive Brokers, and Baraka already operate in the UAE. Additionally, crypto-native firms like Kraken and Bybit have recently obtained local regulatory approvals to expand their services.
Robinhood reported that its stock tokens reached $15 billion in trading volume during the first 100 days on the Robinhood Chain. The company currently counts over 1 million funded users outside the United States. Despite the expansion news, Robinhood Markets shares showed minimal movement following the announcement.
