Flowdesk has secured $102 million in recent funding to develop its digital asset buying and selling and liquidity enterprise, backed by HV Capital and a debt facility from BlackRock-managed funds.
“This funding spherical marks a pivotal second for Flowdesk as we speed up our enlargement into key world markets,” mentioned CEO Guilhem Chaumont in an e-mail to CoinDesk. “Institutional demand for market-making infrastructure is rising quickly, and we’re dedicated to scaling our expertise and companies to satisfy that want.”
In a launch, Flowdesk mentioned it would use the proceeds of the spherical to scale its over-the-counter (OTC) derivatives enterprise and launch a devoted crypto credit score desk whereas additionally doubling headcount on the buying and selling agency.
“Flowdesk has constructed one of the strong world infrastructures for digital asset buying and selling, with unparalleled market connectivity, regulatory protection, and a broad vary of liquidity options,” Chaumont continued.
It additionally plans to develop into the Center East, with the UAE being the following potential hub. Flowdesk is thought for making daring bets when opening new workplaces; it expanded to the U.S. in the course of the peak of the Biden White Home’s warfare on crypto, a transfer that appeared dangerous on the time however ended up paying off handsomely for the corporate.
Tokenization can be a significant focus for Flowdesk as institutional curiosity in on-chain property grows.
The corporate has labored with token issuers to facilitate liquidity for tokenized property and plans to develop its companies to incorporate stablecoins, tokenized securities, and cash market funds.
“From day one, Flowdesk has been constructed on the imaginative and prescient that tokenization would redefine monetary markets. Over the previous years, our work with token issuers has positioned us on the forefront of this transformation,” Chaumont mentioned in an e-mail.
Flowdesk’s present traders, Eurazeo, Cathay Innovation, and ISAI, additionally participated within the spherical.
