Robinhood Markets Inc. (NASDAQ: HOOD) is preparing to launch operations in Dubai, with filings showing the U.S. neobroker has applied for a Category 4 license from the Dubai Financial Services Authority (DFSA). The move will allow it to onboard clients in the UAE and across the wider MENA region from offices in the Dubai International Financial Centre (DIFC).
The company has begun hiring locally, bringing on former Equiti Group and Saxo Bank executive Mario Camara as Senior Executive Officer of its new MENA unit. A formal announcement is expected in the coming weeks.
Robinhood’s entry adds to an increasingly competitive regional wealth-tech landscape, where homegrown platforms such as Sarwa, Baraka, and Egypt’s Thndr have built strong positions with millions of users and regulatory footholds.
Reacting to the news, Sarwa CEO Mark Chahwan wrote on LinkedIn: “Sarwa was never a side bet on MENA. This is home. We live and breathe it every day. That’s why our edge isn’t splashy billboards, it’s relentless focus, profitability, and the real wealth our clients are building.”
The Dubai launch is part of Robinhood’s wider international expansion push, following recent moves into the UK and EU, and plans to establish a regional base in Singapore for Asia.
