Alpaca said its Southeast Asia headquarters, Alpaca Securities Pte. Ltd., has received in-principle approval from the Monetary Authority of Singapore for a Capital Markets Services license. The company said it plans to offer brokerage and custody services in Singapore after meeting the relevant conditions and obtaining the full license. Those services are intended for financial institutions and fintech companies across Southeast Asia. Alpaca also made clear that in-principle approval is not the same as a formal license, and that it cannot begin providing the related services on that basis at this stage.
According to an official announcement from Alpaca, its Southeast Asia headquarters, Alpaca Securities Pte. Ltd., has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Capital Markets Services (CMS) license.
Alpaca said that after meeting the relevant conditions and securing the formal license, the company plans to provide brokerage and custody services in Singapore for financial institutions and fintech companies in Southeast Asia.
The company also said that in-principle approval does not amount to a formal license, and it is not yet able to provide those services on that basis.
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