Market Maker Flowdesk's Contrarian Bet on US Expansion Pays Off in Crypto Spring

Market maker Flowdesk expanded its U.S. presence during the crypto winter, which paid off as the market improved and regulations became more favorable. CEO Guilhem Chaumont believes in making contrarian bets and following his convictions, which led to the expansion of the Paris-based market maker's New York office in 2023. Flowdesk now has a first-mover advantage in the U.S. market and is profitable with increased volumes and revenues. However, operational limitations and a lack of a simplified and globally harmonized regulatory framework for custody remain challenges for the company.