US-based self-clearing broker-dealer and brokerage infrastructure API Alpaca plans to enter the UK market with the acquisition of wealthtech firm WealthKernel.

WealthKernel specialises in digital investment infrastructure and tax-advantaged products, bringing wealth management capabilities to Alpaca’s trading infrastructure.

The acquisition will bring WealthKernel’s UK- and EU-licensed brokerage infrastructure to Alpaca, seeking to support the firm’s global expansion.

Alpaca will gain the ability to act as a fully authorised broker-dealer through WealthKernel’s licenses.

Completion of the acquisition remains subject to regulatory approval from the Financial Conduct Authority and the Spanish Comisión Nacional del Mercado de Valores.

"The acquisition of WealthKernel is a major step for Alpaca in becoming a truly global brokerage infrastructure,” commented Alpaca CEO, Yoshi Yokokawa.

“WealthKernel has gained a highly regarded reputation in the UK and EU through working closely with a number of financial institutions.

"With WealthKernel joining us, we’re directly entering the UK and EU, enhancing our support of global institutions that desire regulated investing across borders."

WealthKernel CEO, Karan Shanmugarajah, added: “Joining forces with Alpaca will allow us to scale our mission faster, while maintaining the high standards our clients expect.

“We’re excited to bring our regulatory expertise and deep product set to Alpaca’s global platform.”

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