Alpaca Plans Entry Into India Through Proposed Acquisition of Zincmoney IFSC

U.S.-based brokerage infrastructure firm Alpaca has announced plans to acquire Zincmoney IFSC Private Limited, a move that would mark its formal entry into India via the International Financial Services Centre (IFSC) at GIFT City. The transaction is subject to regulatory approval from the International Financial Services Centres Authority (IFSCA).

If completed, the acquisition would give Alpaca a regulated broker-dealer presence in India’s offshore financial hub, enabling it to operate under IFSCA licences. The company said the deal would support its broader strategy of expanding global brokerage infrastructure through regulated local entities rather than cross-border arrangements.

Zincmoney IFSC operates as an IFSCA-licensed broker-dealer and offers Indian households access to global investment products, including international securities, IFSC-listed instruments, portfolio solutions for overseas education planning, and restricted stock unit (RSU) management. The transaction would also include Zincmoney’s payment service provider, which facilitates customer payments and transfers within India.

GIFT City has been positioned by Indian policymakers as a gateway for international financial services, with a regulatory framework aimed at attracting global financial institutions and fintech firms. Alpaca’s proposed entry through this channel reflects a growing interest among foreign infrastructure providers in using IFSCs as a compliant route into the Indian market.

“The acquisition of Zincmoney is critical to building truly global brokerage infrastructure,” said Alpaca co-founder and CEO Yoshi Yokokawa, noting that Zincmoney’s experience with Indian financial institutions and fintechs would support Alpaca’s operations as a regulated broker-dealer in the country.

Under the proposed structure, Zincmoney’s leadership would remain involved following the acquisition. Mayuresh Kini of Zincmoney IFSC is expected to become CEO of Alpaca India after regulatory approvals, indicating Alpaca’s intent to retain local management while integrating operations into its global platform.

The planned acquisition underscores a broader trend of global brokerage and fintech infrastructure providers seeking direct, regulated access to high-growth markets such as India. Final completion of the deal will depend on approval from the IFSCA.