Alpaca ADGM FSRA in-principle approval: what it means
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has granted in-principle approval (IPA) to Alpaca Clearing & Custody ME Ltd (Alpaca Middle East). The approval relates to the entity's application for a Financial Services Permission.
The IPA is not a licence. Alpaca Middle East cannot carry out regulated activities in or from ADGM until that permission is granted.
The move would bring Alpaca's API-based brokerage infrastructure closer to financial institutions and fintechs in the Middle East, allowing them to integrate investment services into their own platforms. Alpaca already works with financial institutions and fintech platforms in the region across digital investing, savings and brokerage services, and has a regional team in place.
Alpaca's infrastructure is already used by firms operating from ADGM. In September 2026, Binance launched options on US stocks and ETFs through Nest Trading Limited, its ADGM-regulated broker-dealer, with Alpaca handling execution, clearing, settlement and custody in the US.
A local entity would allow Alpaca to serve such partners from within the region, subject to the FSRA's final decision on its application. Once permission is obtained, Alpaca Middle East plans to offer brokerage services and custody for virtual assets, within the scope ultimately approved by the FSRA.
Newsletter
The corridor, every morning.
Funding rounds and cross-border capital moves, one email, five minutes.
Hatem ElAraby, CEO of Alpaca Middle East, said the UAE has become a hub connecting regional and global capital markets. A regulated presence in Abu Dhabi, he added, would allow the company to work more closely with institutions in the region and connect them with Alpaca's global brokerage infrastructure as part of its long-term presence in the Middle East.
Final: the FSRA has issued in-principle approval for Alpaca Middle East's application.
Pending: the Financial Services Permission itself, and the FSRA's final decision on the scope of activities.
Alpaca holds regulatory permissions in the US, the UK, Europe, Japan, India and the Bahamas, and supports partners in more than 50 countries. The UAE application forms part of its strategy to build regulated brokerage infrastructure in markets around the world. In January 2026, it raised USD 150 million in a Series D round led by Drive Capital to support its global expansion.
More in Policy
