Flowdesk has successfully raised $102 million in a funding round supported by HV Capital and a debt arrangement from BlackRock managed funds to enhance its digital asset trading and liquidity business.

This significant funding will be utilized to amplify its over-the-counter derivatives sector, inaugurate a crypto credit desk, and double its workforce.

“This funding round marks a pivotal moment for Flowdesk as we accelerate our expansion into key global markets,” said CEO Guilhem Chaumont in a communication with CoinDesk. “Institutional demand for market-making infrastructure is growing rapidly, and we are committed to scaling our technology and services to meet that need.”

Flowdesk will also be focusing on expansion into the Middle East, with the UAE as a prospective hub. Known for decisive moves, the company opened new offices in the U.S. during challenging times for the crypto market, a strategy that has proven to be successful.

Furthermore, tokenization remains a primary area of interest, aiming to cater to growing institutional demand for on-chain assets. Flowdesk intends to provide liquidity for tokenized assets and expand services involving stablecoins, tokenized securities, and money market funds.

“From day one, Flowdesk has been built on the vision that tokenization would redefine financial markets. Over the past years, our work with token issuers has positioned us at the forefront of this transformation,” Chaumont remarked.