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Alpaca Clearing & Custody ME Ltd has received In-Principle Approval (IPA) from the Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority (FSRA) and plans to offer brokerage and virtual asset custody services upon obtaining a financial services license. Alpaca stated that the In-Principle Approval is not equivalent to a financial services license, and Alpaca Middle East is prohibited from conducting regulated activities within or from the ADGM until the relevant license is obtained.