Flowdesk has secured $102 million in fresh funding to expand its digital asset trading and liquidity business, backed by HV Capital and a debt facility from BlackRock-managed funds.

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

In a release, Flowdesk said it will use the proceeds of the round to scale its over-the-counter (OTC) derivatives business and launch a dedicated crypto credit desk while also doubling headcount at the trading firm.

“Flowdesk has built one of the most robust küresel infrastructures for digital asset trading, with unparalleled market connectivity, regulatory coverage, and a broad range of liquidity solutions,” Chaumont continued.

It also plans to expand into the Middle East, with the UAE being the next potential hub. Flowdesk is known for making bold bets when opening new offices; it expanded to the U.S. during the height of the Biden White House’s war on crypto, a move that seemed risky at the time but ended up paying off handsomely for the company.

Tokenization is also a major focus for Flowdesk as institutional interest in on-chain assets grows.

The company has worked with token issuers to facilitate liquidity for tokenized assets and plans to expand its services to include 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 said in an email.

Flowdesk’s existing investors, Eurazeo, Cathay Innovation, and ISAI, also participated in the round.