Alpaca, a US-headquartered brokerage infrastructure API provider, has completed its acquisition of WealthTech firm WealthKernel, marking its formal entry into the European market alongside the debut of its API-driven equities trading service across the continent.
WealthKernel, which had previously operated as an independent WealthTech business offering licensed investment infrastructure across the UK and EU, will now trade under the name Alpaca Europe. The deal gives Alpaca regulated brokerage and custody capabilities in both jurisdictions, encompassing products including ISAs and SIPPs, as it looks to position itself as the go-to infrastructure layer for financial institutions building investment offerings across the region.
Alpaca’s European equities trading service is now live, beginning with Germany’s Xetra exchange. Coverage of Euronext markets and the London Stock Exchange is expected to follow. The single API integration is designed to allow partners to offer cross-border investing while Alpaca manages execution, custody, and settlement, backed by leading global financial institutions. BNP Paribas, through its venture arm Opera Tech Ventures — which participated in Alpaca’s most recent Series D — has indicated its support for the expansion.
Karan Shanmugarajah, previously CEO of WealthKernel, has been appointed CEO of Alpaca Europe and will oversee its regional operations. The wider WealthKernel team has transitioned across to Alpaca, bolstering the group’s regulatory, operational, and product capabilities in the region.
Alpaca serves hundreds of FinTech companies and financial institutions globally through its trading infrastructure. In the US, it has also carved out a dominant position in the tokenised equities space, holding a 94% market share in tokenised US stocks and ETFs.
Opera Tech Ventures managing director and co-head Vincent Baillin said, “We are excited to support Alpaca’s growing presence in Europe and look forward to helping expand access to modern, scalable investment infrastructure across the region.”
Alpaca CEO and co-founder Yoshi Yokokawa said, “Completing the WealthKernel acquisition is a major step in Alpaca’s expansion into Europe. By combining Alpaca’s US-headquartered, fully licensed and self-clearing brokerage infrastructure with our licensed operations in the UK and EU, we’re making it easier for companies to build and scale investment products across regions and reducing the complexity of cross-border investing.”
Alpaca Europe CEO Karan Shanmugarajah said, “This is an exciting step not just for Alpaca, but for the broader European investment ecosystem. By combining local regulatory expertise with global, API-driven infrastructure, we are well positioned to help partners build, launch, and scale investment products across Europe with greater speed and efficiency.”
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