Alpaca Clearing & Custody ME, has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM to expand its brokerage infrastructure in the UAE.

The IPA is a key step toward establishing Alpaca’s regulated presence in the UAE and expanding its support for financial institutions and fintechs across the region. 

Subject to obtaining a Financial Services Permission, Alpaca Middle East plans to offer brokerage services and custody for virtual assets within the scope ultimately approved by the FSRA, bringing Alpaca’s API-driven brokerage infrastructure closer to partners in the Middle East.

Key hub

“The UAE has emerged as an important hub connecting regional and global capital markets, with a strong ecosystem for financial services and technology,” said Hatem ElAraby, CEO of Alpaca Middle East. 

“Establishing a regulated presence in Abu Dhabi will allow us to work more closely with institutions in the region and connect them with Alpaca’s global brokerage infrastructure. This is an important step in building our long-term presence in the Middle East.”

Alpaca has established relationships with financial institutions and fintech platforms across the Middle East, spanning digital investing, savings and brokerage services. These relationships, together with Alpaca’s regional team and global brokerage infrastructure, provide a strong foundation for its continued investment and long-term growth in the region.—TradeArabia News Service