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 companies that is both UK and EU-regulated.
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As a Securities Broker (or Agencia de Valores), WealthKernel is authorised to accept and transmit orders (RTO) and provide custody solutions. Apart from receiving regulatory license, the company has broadened its reach by opening a new office in Madrid.
Additionally, the Spanish license will allow it to offer its products to European businesses offering to fuel their operations with our flexible API investment infrastructure.
Spain’s fast expanding fintech industry, favourable regulatory climate, and emphasis on improving the entrepreneurial landscape make it an ideal fit for WealthKernel.
The company 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.
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By GlobalDataSpain boasts a tech-savvy population, worldwide market access, and a thriving startup ecosystem, all of which complement WealthKernel’s strategy and goal.
The European expansion is a big step forward for the company and reinforces its place as an innovator of global investment infrastructure. In the coming months, the company will further develop its operations and manage Europe’s legal constraints, all while improving itself in the fintech and wealthtech area.
Moreover, 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 past few years.
With the obtained permit, WealthKernel can now provide its services to firms aiming to produce outstanding products and go to market faster in the EU, beginning in Spain. WealthKernel can now provide Euro-based trading and settlement services, as well as access to EU securities, fractional ETFs, and money market funds.
Karan Shanmugarajah, CEO, WealthKernel stated: “We’re 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.”
Mariano Alonso, CHRO, WealthKernel added: “We selected Spain as our entry point into the EU due to its robust regulatory framework and a regulator as highly respected as the CNMV. This marks a significant opportunity for WealthKernel to make a meaningful contribution to Spain, a country fostering innovation and establishing itself as a key player in Europe’s fintech ecosystem. We are excited to continue advancing a more accessible wealth management industry.”
