WealthKernel is now one of the few API-first investing infrastructure firms that is both UK and EU-regulated
WealthKernel, a provider of digital investing infrastructure, has entered the European market with a license from Spain’s National Securities Market Commission, or CNMV.
WealthKernel is now one of the few API-first investing infrastructure firms that is both UK and EU-regulated.
As a Securities Broker, WealthKernel is authorised to accept and transmit orders (RTO) and provide custody solutions. Apart from receiving regulatory license, the firm has widened its reach by opening a new office in Madrid.
Furthermore, the Spanish license will allow it to offer its products to European businesses offering to fuel their operations with its flexible API investment infrastructure.
The firm chose Spain as its first foray into the European market since the country is widely regarded as the next European fintech powerhouse, with numerous multinational fintech’s opening new intermediates.
The European expansion is a big step forward for the firm and reinforces its place as an innovator of global investment infrastructure. In the coming months, the firm will further develop its operations and manage Europe’s legal constraints, all while improving itself in the fintech and wealthtech area.
Additionally, Wahed Invest, Stratiphy, Fint Invest, Wealthyhood, and other fintech’s and wealth managers have been able to access effective API investment infrastructure provided by WealthKernel during the last few years.
With the obtained permit, WealthKernel can now provide its services to companies aiming to produce outstanding products and go to market faster in the European Union, beginning in Spain. WealthKernel can now provide Euro-based trading and settlement services, as well as access to EU securities, fractional exchange traded funds, and money market funds.
Karan Shanmugarajah, Chief Executive Officer, WealthKernel said: We are thrilled to have expanded our presence in Spain. We will soon be able to help businesses in Spain and Europe and power their investing proposition.
Securing the licence from the CNMV is a testament to our commitment to growth, innovation, and compliance. This new milestone reflects our mission of helping create better businesses with our API-first investment infrastructure and is our first step in our European expansion strategy, Shanmugarajah said.
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