Alpaca has announced that its regulated investment services have now been passported to all 29 countries within the European Economic Area (EEA). This move provides fintech companies and financial institutions with a single access point for offering regulated investment products across Europe.
Access to Europe via Spanish license
The expansion was carried out through Alpaca’s Spain-based unit, which is authorized by the Spanish National Securities Market Commission (CNMV) under the MiFID II framework. Alongside its activities in the UK, Alpaca can now provide localized investment infrastructure to a market of approximately 500 million people.
Glossary: MiFID II is a European Union framework regulating investment services and securities markets. Passporting allows an institution authorized in one member state to provide certain services in other EEA countries after a notification process.
Alpaca operates an API-based brokerage platform, offering account management, custody, and trading services. With the new structure, business partners can access this infrastructure across Europe without seeking individual licenses in each country. The company noted that this phase follows its acquisition of WealthKernel and the broader European expansion completed last year.
By enabling access to 29 EEA markets through its regulated Spanish unit, Alpaca allows partners to focus on product launches while reducing the need to repeat licensing processes for each country.
Strengthening its position in digital assets
Alpaca provides infrastructure for stocks, ETFs, options, bonds, and crypto assets. The recent expansion also boosts Alpaca’s standing in the digital asset sector. Many crypto companies are now creating regulated investment platforms that combine traditional securities and digital assets under one licensed umbrella.
For companies developing crypto investment products, working with a regulated infrastructure provider can ease compliance burdens and facilitate access to clients across multiple jurisdictions. Consequently, the passporting system in Europe has become a leading model for fintech and crypto companies looking to scale.
Other companies using the model and new partnership
In Europe, companies like eToro, Interactive Brokers, and Trading 212 also use this model. Similarly, Alpaca can now offer investment infrastructure across 29 EEA markets through its regulated Spanish entity, without needing separate national licenses for each territory.
| Category | Before | After |
|---|---|---|
| Market access | Required country-specific procedures | Access to all 29 EEA countries via one regulator |
| Operational model | Separate approval processes could be time-consuming | API-based infrastructure targets faster product delivery |
| Regulatory basis | Evaluations conducted country by country | Relies on the MiFID II passporting system |
With this latest step, Alpaca aims to reduce the time and regulatory workload required to reach new clients. Business partners can now focus more on product development and distribution rather than repeating license applications for each market.
Once the notification process is complete, companies authorized in one EEA member country can expand much of their regulated services across the entire region.
Additionally, Alpaca has signed a memorandum of understanding with South Korean firm Eugene Investment & Securities. The agreement is designed to broaden global investors’ access to Korean equities through Alpaca’s brokerage infrastructure platform.
