Alpaca's Middle East Entity Receives In-Principle Approval from Abu Dhabi's FSRA

Alpaca, a US-licensed broker and tokenized stock infrastructure provider, announced via Twitter that its entity Alpaca Clearing & Custody ME Ltd (Alpaca Middle East) has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) for its financial services license application.

Following the acquisition of the financial services license, Alpaca Middle East plans to provide brokerage services and virtual asset custody services within the scope of FSRA's final approval. Alpaca stated that the in-principle approval does not equate to a financial services license, and until the relevant license is obtained, Alpaca Middle East may not conduct regulated activities within or from ADGM.

[ChainCatcher]