DKK Partners opens Dubai office to bring EM FX liquidity to MENA region
“We are excited to launch in Dubai and bring our mastery of FX to empower businesses and financial institutions who have previously lacked access to high quality solutions.”
DKK Partners has announced the launch of a Dubai operation to bring more emerging markets (EM) and foreign exchange (FX) liquidity options to the de facto capital of the MENA region.
Key services including virtual IBAN accounts, allowing customers to access new currencies and territories, as well as EM liquidity to prove direct access to real-time pricing and execution across frontier, emerging and G10 market currencies.
Asia Salvatore leads DKK’s Dubai office in World Trade Center
The office, based in the Dubai World Trade Centre, will act as a central hub for DKK Partners in the Middle East and North Africa (MENA) region, granting greater access to the Middle East, Africa and Asia trade corridors.
The expansion will be led by senior associates within the region all with Tier 1 banking experience in forex, trade finance and structured products.
The team currently consists of three full time staff, led by budding entrepreneur Asia Salvatore, but headcount is widely expected to increase over the year.
DKK Partners plans to obtain VARA license for digital assets
The Dubai operation has already obtained its World Trade Centre Free Zone license and has plans to bolster with virtual assets licenses through VARA (virtual assets regulatory authority) in the near future, the fintech firm stated.
For now, the immediate focus will be to empower local businesses and the local economy through access to FX services as the firm enables businesses to manage currency risks in frontier markets.
DKK Partners, founded by ex-UBS, Citi FX specialists Khalid Talukder and Dominic Duru, has experienced substancial growth in 2022, with revenues up by circa 60% – surpassing £100 million in revenue, up from £63 million the previous year.
A frontier markets currency trading house
Asia Salvatore, Head of Sales for DKK in Dubai, said: “We are excited to launch in Dubai and bring our mastery of FX to empower businesses and financial institutions who have previously lacked access to high quality solutions. Dubai is a land of opportunities and DKK is perfectly poised to get out there and make a splash in the market.”
Khalid Talukder, Co-Founder & CEO of DKK Partners, commented: “DKK has achieved fantastic growth over the past year and launching in Dubai is a natural step to continue our expansion and evolution as a frontier markets currency trading house. We have a passionate team with extensive knowledge of the local market ready to hit the ground running and deliver high quality FX services to the region.”
