According to CoinMeta, the US securities brokerage and clearing infrastructure company Alpaca announced that its Abu Dhabi entities Alpaca Clearing and Custody ME Ltd have received preliminary approval from the Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority (FSRA). They plan to commence related regulated activities once they obtain formal licenses. Alpaca has previously collaborated with Binance to launch services related to US stocks, ETF, and Bstocks tokenized stocks, and has provided infrastructure support for tokenized securities platforms such as Ondo Finance.