WealthKernel, the leading digital investing infrastructure provider, today announces its expansion into the European market with a license from the Spanish National Securities Market Commission or CNMV (Comisión Nacional del Mercado de Valores). This makes WealthKernel one of the only API-first investment infrastructure providers dual-regulated in the UK and EU.
WealthKernel has been authorised as a Securities Broker (or Agencia de Valores) with permission to receive and transmit orders (RTO) and offer custody solutions. In addition to the regulatory approval, the company has also expanded its presence with a new office in Madrid.
The Spanish license will enable WealthKernel to offer its services to European companies looking to power their business with our flexible API investment infrastructure.
Spain’s rapidly growing fintech ecosystem, supportive regulatory environment, and focus on improving the entrepreneurial landscape make it the natural fit for WealthKernel. The company chose Spain as its first step into the European market as the country is considered by many to be the next European fintech powerhouse, with many international fintechs choosing to open new intermediaries. Spain has a tech-savvy population, global market access and a vibrant startup scene, all of which support WealthKernel’s roadmap and vision.
The European expansion represents a significant step in the company’s roadmap and strengthens its position as a key provider of global investment infrastructure. In the next few months, the company aims to scale its operations and navigate the regulatory requirements of Europe, all while continuing to innovate in the fintech and wealthtech space.
Over the last few years, WealthKernel has offered best-in-class API investing infrastructure to fintechs and wealth managers, including Wahed Invest, Wealthyhood, Stratiphy, Fint Invest, and more.
With the new licence, WealthKernel can now extend its services to companies looking to build great products and get to market faster in the EU, starting with Spain. WealthKernel can now offer Euro-based trading and settlement services along with access to EU securities, fractional ETFs and MMFs.
Brian Schwieger, Chair of the Board, WealthKernel, said,
“This is a very significant and unique milestone for WealthKernel, as we are now authorised to operate in both the UK and Europe. It’s a real testament to the quality of our platform and people. I am looking toward to working with our team to build out both our Spanish base and our European business.”
Karan Shanmugarajah, CEO, WealthKernel said,
“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 said,
“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.”
