Alpaca Targets India Expansion With Planned Acquisition of Zincmoney IFSC
Alpaca, the U.S.-headquartered brokerage infrastructure provider, has announced its intention to acquire Zincmoney IFSC Private Limited, marking a significant step in its expansion into India through the country’s International Financial Services Centre at GIFT City.
The proposed acquisition would give Alpaca a regulated broker-dealer foothold in India’s offshore financial hub, allowing it to operate under licences issued by the International Financial Services Centres Authority (IFSCA). Subject to regulatory approval, the deal positions Alpaca to accelerate growth in one of the world’s quickest-expanding investing markets while extending its global brokerage infrastructure strategy.
GIFT City has emerged as India’s gateway for international financial services, offering a regulatory framework designed to attract global . By entering through this channel, Alpaca aims to combine its global API-driven brokerage platform with local regulatory access and market expertise.
Strategic Entry Into a High-Growth Market
Zincmoney operates as an IFSCA-regulated broker-dealer and has built products focused on Indian households viewking access to global investments. Its offerings include international securities, IFSC-listed instruments, portfolio answers for overseas education planning, and restricted stock unit (RSU) management.
For Alpaca, acquiring Zincmoney would provide immediate regulatory infrastructure and an operational base in India. The move aligns with Alpaca’s broader mission of enabling compliant access to global capital markets through embeddable brokerage APIs used by banks, brokers, and fintech platforms.
“The acquisition of Zincmoney is critical to building truly global brokerage infrastructure,” said Yoshi Yokokawa, co-founder and CEO of Alpaca. He noted that Zincmoney’s experience working with Indian financial institutions and fintechs would assist Alpaca serve the Indian market as a regulated broker-dealer while supporting partners that need access to U.S. and international securities.
The transaction would also include Zincmoney’s payment service provider (PSP), enabling customer payments and transfers across India—an significant component for scaling retail and institutional investing products in the region.
Combining Global Infrastructure With Local Expertise
The planned acquisition brings together Alpaca’s global brokerage stack—which spans U.S. stocks, ETFs, options, fixed income, and crypto—with Zincmoney’s understanding of Indian regulations and distribution channels. Alpaca’s platform is designed for embedded finance use cases, allowing partners to integrate trading, custody, and wealth products directly into their own applications.
From Zincmoney’s perspective, joining Alpaca offers a path to scale its original mission. “Joining Alpaca allows us to accelerate what we set out to build—making global investing and IFSC products accessible to Indian households through the partners they already trust,” said Mayuresh Kini of Zincmoney IFSC.
, Kini is expected to transition into the role of CEO of Alpaca India, underscoring Alpaca’s intention to retain local leadership while integrating Zincmoney into its global operations.
Broader Implications for Global Brokerage Infrastructure
The deal highlights how global brokerage infrastructure providers are increasingly targeting regulated entry points rather than relying solely on cross-border partnerships. India, with its large and digitally engaged population, represents a long-term growth opportunity—but one that requires careful navigation of regulatory frameworks.
By choosing GIFT City as its entry point, Alpaca is positioning itself within India’s policy-driven push to attract international financial activity while maintaining regulatory oversight. If approved, the acquisition would strengthen Alpaca’s claim as a full-stack global brokerage infrastructure provider, capable of supporting investing jurisdictions.
Completion of the transaction remains subject to approval by the Centres Authority.
