Alpaca Nears Singapore Brokerage Launch with MAS In-Principle…

Event summary

Alpaca's Singapore subsidiary received in-principle approval (IPA) from MAS for a Capital Markets Services license on September 28, 2026.
The approval marks a key step in Alpaca's expansion into Southeast Asia, where it aims to provide brokerage and custodial services.
Alpaca currently supports over 10 million brokerage accounts across 50+ countries with $400 million in funding.
The Singapore entity will serve as a local counterparty for prospective partners in the region.

The big picture

Alpaca's MAS approval strengthens its position as a global brokerage infrastructure provider, aligning with the growing demand for international investing in Southeast Asia. The move complements its existing regulatory footprint across the U.S., Europe, Japan, and India, positioning it to support fintechs and institutions in a key emerging market. The approval also underscores Singapore's role as a financial hub connecting regional investors to global markets.

What we're watching

Regulatory Compliance: Whether Alpaca can fully meet MAS's conditions to convert the IPA into a full license without material delays.
Market Penetration: The pace at which Alpaca can attract institutional partners in Southeast Asia through its Singapore hub.
Competitive Dynamics: How Alpaca's entry will impact existing brokerage and fintech players in the region.