London FX firm launches Dubai ops to seize Mena opportunities

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• Dubai is first of 4 DKK Mena offices
• DKK had £100m revenue in 2022 after 60% growth
• Emerging markets FX specialist aims to treble its Dubai team this year

DKK Partners, an emerging markets foreign exchange liquidity provider, has launched operations in Dubai as part of a major expansion into the Middle East.

The London-based fintech company has opened an office in Dubai and plans to follow that with three more in the region as it sees the GCC developing into a “financial hub that bridges Europe with Asia.”

The announcement by DKK follows 60 percent growth in revenue in 2022, surpassing £100 million.

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The office, based in the Dubai World Trade Centre, will act as a central hub for DKK in the region granting greater access to the Middle East, Africa and Asia trade corridors. 

DKK said it has plans to expand its Dubai team, currently consisting of three full time staff, threefold by the end of this year.

It also plans to apply for a virtual assets licence through the Virtual Assets Regulatory Authority in the near future.

Asia Salvatore, head of sales for DKK in Dubai, said: “Dubai is a land of opportunities and DKK is perfectly poised to make a splash in the market.”

“Launching in Dubai is a natural step to continue our expansion and evolution as a frontier markets currency trading house,” added its co-founder and CEO Khalid Talukder.

DKK was founded by capital markets specialist Talukder, who previously worked for UBS, Citi & Deutsche Bank, and Dominic Duru, of RBS and Citi, bringing together both of their experiences in helping businesses managing currency risks in frontier markets

Key services including virtual Iban accounts, allowing customers to access new currencies and territories, as well as emerging market liquidity for direct access to real-time pricing and execution across frontier, emerging and G10 market currencies.

Last year, Duru told AGBI: “We see the GCC region becoming the financial hub that bridges Europe with Asia.

“Led by technological fintech innovation as well as progressive regulators, the region has seized the opportunity to position itself in this way.   

“More and more businesses are taking advantage of the fast-paced commerce environment.”