Alpaca announced that its investment services are now passported to 29 European Economic Area (EEA) countries via its Spain-based unit, which is authorized by the Spanish National Securities Market Commission (CNMV) under the MiFID II framework. The move allows Alpaca to provide localized investment infrastructure to a market of roughly 500 million people.
MiFID II Passport Unlocks 29 Markets
Alpaca's Spanish entity, already regulated by the CNMV, leverages the EU's MiFID II passporting system—an institution authorized in one member state can offer certain services across the EEA after a notification process. This eliminates the need for Alpaca's business partners to seek individual licenses in each country. The company noted that this expansion follows its acquisition of WealthKernel and broader European expansion completed last year.
Alpaca operates an API-based brokerage platform offering account management, custody, and trading. With the new structure, partners can access this infrastructure across Europe without repeating licensing procedures. “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,” the company said.
Boosting Digital Asset Position
Alpaca’s infrastructure covers stocks, ETFs, options, bonds, and crypto assets. The latest expansion strengthens its foothold in digital assets. Many crypto firms are building regulated investment platforms that combine traditional securities and digital assets under a single license. For companies developing crypto investment products, working with a regulated infrastructure provider eases compliance burdens and facilitates multi-jurisdiction client access. Europe’s passporting system has become a leading model for fintech and crypto firms looking to scale.
Peer Approaches and New Korea Deal
In Europe, eToro, Interactive Brokers, and Trading 212 also use this passporting model. Alpaca now offers investment infrastructure across all 29 EEA markets through its Spanish entity, without requiring separate national approvals. The company aims to shorten time-to-customer and reduce regulatory overhead. Separately, Alpaca signed a memorandum of understanding with South Korean Eugene Investment & Securities. The agreement is designed to broaden global investors’ access to Korean equities via Alpaca’s brokerage infrastructure platform.