Alpaca, a brokerage infrastructure technology company and self-clearing broker-dealer, delivering execution and custody solutions for Stocks, ETFs, and Options, that support hundreds of financial institutions worldwide, on December 10, 2024, announced a new strategic partnership with Derayah Financial, a leading financial services firm and the first digital investment platform in the Kingdom of Saudi Arabia, to further expand financial accessibility in the Middle East.
This partnership, including a strategic investment by Derayah in Alpaca, accelerates their joint efforts to enable access to Saudi Exchange (Tadawul) to investors worldwide through Alpaca’s brokerage infrastructure that supports hundreds of financial institutions and millions of individuals. KSA’s ambitious Vision 2030 initiatives are fueling growth across diverse sectors in the financial markets, and Saudi Exchange is becoming one of the key exchanges in the world.
This includes offering an API for institutional and individual algorithmic traders while empowering both fintechs and enterprise institutions to embed investment services. Alpaca also announced that it has completed establishing its Saudi local entity.
“We are thrilled to partner with Derayah to open access to the super fast-growing economy of the KSA worldwide,” said Yoshi Yokokawa, Co-founder and CEO, at Alpaca. “This partnership will accelerate our mission of opening financial services to everyone on the planet.”
Mohammed Al Shammasi, CEO at Derayah, expressed: “This partnership reflects our commitment to innovation and the development of solutions that integrate local expertise with world-class technology, reinforcing our leadership in the financial technology sector within the Kingdom. It also enables seamless, fully electronic access for a wide range of individual and institutional foreign investors to trade in the Saudi market. Alpaca is recognized as a trusted partner and benefits from strong growth opportunities. We look forward to collaborating with them to expand businesses in the Saudi market and across the Middle East.”
By combining Alpaca’s institutionally recognized infrastructure and Derayah’s customer-centric experience, they are poised to drive significant advancements in investing accessibility for investors in both the KSA and beyond.
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