Musaffa Taps Alpaca to Unlock Halal Investing in US Markets

NEW YORK, NY – February 26, 2026 – Fintech platform Musaffa has launched its Global Halal Investment Platform, a significant move aimed at simplifying access to US capital markets for hundreds of thousands of Muslim investors worldwide. In a partnership with brokerage infrastructure leader Alpaca, the new platform integrates Shariah compliance directly into the trading experience, addressing long-standing barriers that have kept many faith-aligned investors on the sidelines.

The launch provides Musaffa’s user base of over 600,000 members across more than 200 countries with a unified system for screening, trading, and managing investments according to Islamic principles. This collaboration seeks to capture a share of the rapidly expanding Islamic finance sector by offering a modern, seamless solution to a historically underserved demographic.

Tapping a Multi-Trillion-Dollar Market

The timing of Musaffa's launch aligns with a period of explosive growth in faith-based finance. According to multiple industry analyses, including recent reports from LSEG and S&P Global, the global Islamic finance market is projected to surge from over $5 trillion today to nearly $9.7 trillion by 2029, reflecting a compound annual growth rate of approximately 10%. Islamic fintech, while still a nascent segment, now constitutes 3% of these total assets, signaling a critical opportunity for digital-first platforms.

This growth is driven by a young, digitally-native global Muslim population seeking financial products that do not violate core tenets of their faith, such as the prohibition of interest (riba) and investments in industries like alcohol, gambling, and conventional banking. By providing direct, regulated access to US stocks, ETFs, and other securities, Musaffa and Alpaca are positioning themselves at the forefront of this financial shift, bridging the gap between a massive pool of global capital and the world’s largest economy.

Solving the Fragmentation Puzzle for Faith-Aligned Investors

For years, Muslim investors have navigated a disjointed and often frustrating landscape. The process of building a Shariah-compliant portfolio typically involved using multiple, disconnected tools: one app to screen stocks for compliance, a separate brokerage account for trading, and manual spreadsheets for calculating purification (donating incidental non-compliant income) and Zakat (annual charitable obligations). This fragmentation created inefficiencies and, more critically, uncertainty.

A stock’s compliance status can change based on its business activities or financial ratios, and without an integrated system, investors could unknowingly hold non-compliant assets, compromising their ethical and religious commitments. Musaffa’s platform aims to eliminate this friction.

“Traditionally, Muslim investors have relied on multiple disconnected tools, including separate platforms for screening, trading, purification calculations, and zakat tracking. This fragmentation creates unnecessary manual effort and high levels of uncertainty,” explained Dilshod Jumaniyazov, Co-Founder and CEO of Musaffa. “By partnering with Alpaca, Musaffa is expanding access to US capital markets via modern, scalable trading infrastructure while embedding Shariah compliance directly into the investing experience.”

By automating compliance checks and integrating them with trading, the platform allows users to engage with markets confidently, ensuring their portfolio remains aligned with their values.

The Technology Powering Financial Inclusion

The technological backbone for this initiative is Alpaca’s Broker API. Alpaca operates as a US-headquartered, self-clearing broker-dealer that provides the underlying infrastructure for hundreds of fintechs and financial institutions globally. Rather than building brokerage systems from scratch—a process that takes years and millions of dollars—companies like Musaffa can embed Alpaca’s regulated trading, clearing, and custody services directly into their own applications.

This API-first model has become a catalyst for innovation, enabling the creation of niche financial products, from Shariah-compliant investing to 24/5 stock trading. Alpaca has previously powered similar halal investment platforms, including Canada's Manzil and Kuwait's ZAD, demonstrating a strategic focus on providing tools for financial inclusion.

“We’re proud to empower partners like Musaffa in bridging the gap between the rapidly growing demand for faith-aligned access to US markets without friction,” said Yoshi Yokokawa, Co-Founder and CEO of Alpaca. “Providing infrastructure that partners use to build embeddable Shariah-compliant solutions is important for Alpaca as we expand financial accessibility globally.”

It is important to note that while Alpaca provides the enabling technology, it does not certify Shariah compliance itself. That responsibility lies with its partners, like Musaffa, which utilize their own screening methodologies and often consult with Shariah scholars to validate their offerings.

Navigating a Competitive and Evolving Landscape

Musaffa enters a competitive but growing field. The US market already features established players like Amana Mutual Funds and pioneering fintechs such as Wahed Invest, which launched the first Shariah-compliant ETF in the United States. Other platforms, including Zoya and Islamicly, offer robust screening tools to help investors build their own halal portfolios.

However, Musaffa’s differentiation lies in its all-in-one approach. By combining real-time screening, direct trading capabilities, and compliance management within a single interface, it aims to offer a superior user experience compared to the multi-platform approach many investors currently use. This integrated model, powered by a modern API, represents the next logical step in the evolution of digital Islamic finance.

As the platform launches, it operates within the robust regulatory framework of the U.S. financial system, with brokerage services provided by Alpaca Securities LLC, a member of FINRA and SIPC. This ensures that while the products are tailored to specific religious principles, they are also subject to the same investor protections as conventional investment platforms. Looking ahead, Musaffa has already signaled its ambition to further enhance its offering, with plans to introduce 24/5 trading access in the near future.