WealthKernel obtains Spanish license to expand European footprint

By Gloria Methri

WealthKernel, the digital investing infrastructure provider, has expanded its presence in the European market by obtaining a license from the Spanish National Securities Market Commission. 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 (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 its flexible API investment infrastructure.

Over the last few years, WealthKernel has offered API investing infrastructure to FinTechs and wealth managers, including Wahed Invest, Stratiphy, Fint Invest, Wealthyhood and more. With the new license, the company can extend its services to companies looking to build great products and get to market faster in the EU, starting with Spain. WealthKernel can offer Euro-based trading and settlement services along with access to EU securities, fractional ETFs and MMFs.

Brian Schwieger, Chair of the Board at 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 forward to working with our team to build out both our Spanish base and our European business.”

Karan Shanmugarajah, CEO of 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. 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 of 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 the company 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.”