Flowdesk is the first french company proposing market-making services and a specialized trading desk on digital assets to obtain the DASP registration (N°E2021-019) to legally conduct their activities. Introduced in 2019 by the PACTE law, the DASP status requires respecting strict guidelines regarding AML (Anti Money Laundering) and CFT (Combating the Financing of Terrorist). Since its inception, Flowdesk is committed to these guidelines and have applied them diligently to their operations.
“Since the beginning of Flowdesk, our priority has been to develop our activities while keeping the regulators’ recommendation in sight. With the support of our technical and legal advisors, as well as our Compliance division led by Anne-Sophie Cissey, we were able to quickly file our registration’s request and obtain the authorization to pursue the development of our activities”. Paul Bugnot, COO of Flowdesk.
Flowdesk is registered for the following activities:
- Digital assets custody
- Purchase/sale of digital assets for legal tender
- Exchange of digital assets for other digital assets
Started in April 2020, Flowdesk was founded by four French entrepreneurs in the hope to promote French technical excellence to develop specialized trading services on the digital asset markets, and bridge the gap between traditional and digital finance. After a successful first round of funding with business angels and the French VC ISAI, Flowdesk has deployed a complete trading infrastructure that connects to all major exchange platforms (examples: Paymium, Binance etc…) to offer global access to the digital asset liquidity, as well as brokerage services to its clients.
Flowdesk's market-making technology helps crypto projects and exchanges platforms to improve their liquidity and market structure by providing an all-in-one solution covering all markets (exchanges, hedging and brokerage services). Additionally, Flowdesk develops specialized tools to securely access the crypto asset markets, designed for traditional finance professionals, notably investment funds seeking to integrate crypto to their strategies with a plug-and-play solution. As of today, Flowdesk is leveraging its financial infrastructure to efficiently execute more than one 100,000 of orders per day.
A strict legal framework is necessary to enable traditional finance actors to start looking towards digital asset markets. In parallel with its activities, Flowdesk is additionally working with the regulatory authorities to provide regulatory watch and education, in hope to prepare the next regulatory evolutions.
Anne-Sophie Cissey, Compliance Officer of Flowdesk, adds: “the regulatory framework is constantly evolving, and we are convinced that this is going in the right direction, but we should anticipate these changes. It’s a sine qua non condition for the institutional investors to start looking into the digital asset markets and its promises.”