15 hours ago
Robinhood Applies for DFSA License to Expand into Dubai
Robinhood, the US-based neobroker, has applied for a Category 4 license from the Dubai Financial Services Authority (DFSA), indicating its intent to operate in the UAE and the broader Middle East and North Africa (MENA) region.
If approved, the license would permit Robinhood to establish operations in the Dubai International Financial Centre (DIFC), a prominent financial hub.
This move is part of the company's broader international expansion, which has recently included increased activity in Europe and Asia, according to ADVFN.
To lead its MENA operations, Robinhood has appointed Mario Camara as Senior Executive Officer.
Camara has extensive experience in the FX and CFDs industry, having served as Senior Vice President of Licensing & Government Relations at Equiti Group for six years.
He previously held leadership roles at Saxo Bank, where he was Managing Director for the MENA region based in DIFC.
Robinhood's expansion into Dubai follows a series of international initiatives, including the launch of its Legend desktop trading platform in the UK and sponsorship of French football club OGC Nice.
The company has also introduced products for European investors, such as US stock and ETF tokens and perpetual futures.
Although Robinhood has not disclosed detailed plans for the MENA region, recent developments suggest a rapid move into Dubai.
A formal announcement outlining its regional strategy is expected in the coming weeks.
The expansion aligns with Robinhood's stated aim of making trading accessible to a wider audience.
