Weltio has launched a wealth management platform for Latin Americans with Alpaca Broker API.
Weltio is a technology wealth management platform that “offers Latin American investors the opportunity to invest in U.S. stocks, ETFs, and cryptocurrencies.”
Weltio, was founded in September 2021 by David Abusaid and George Marvin, who felt that traditional financial institutions “for decades have neglected, underserved, and overcharged middle-class investors in Latin America.”
They felt a change was needed and decided “to take a risk and leave their highly successful careers to establish Weltio.” This digital investing platform is designed “to offer an enjoyable experience and help empower Latin American investors to transparently buy and sell financial assets from selected partners.”
Weltio’s mission is “to help meet the financial investment needs of middle and upper-class Latin Americans through a universe of efficient and effective wealth management and educational tools that can help guide their experience in a simple, accessible, and safe way.”
The company’s core values are based on the principles of:
- Efficiency: Looking for better ways to solve problems
- Compromise: We will only be successful if our customers are
- Inclusive: Everybody should feel safe and encouraged to be who they are
- Honesty: We tell the truth, treat people fairly, and acknowledge our mistakes
Latin American Investors have “the opportunity to invest directly in U.S. stock exchanges, including stocks, ETFs, and crypto by opening USD accounts as well as a multi-currency account.”
The platform “has a simple, user-friendly interface to enable investors of all levels to trade efficiently.” Weltio offers fractional shares, “meaning investors can start investing from as little as $1 USD No minimums for trading US stocks or ETFs.”
Weltio has partnered with Alpaca Broker API “to offer a seamless investing experience to retail investors in Latin America, leveraging their suite of brokerage, custody, and post-trade solutions.”
Weltio chose to work with Alpaca “because they understood other growing startups and their needs.”
As noted in the update, Alpaca is “a developer-first embedded financial technologies platform that’s raised over $100m in funding.”
Alpaca offers crypto and stock trading, real-time market data, and end-to-end brokerage infrastructure through modern APIs. Alpaca is “backed by top investors in the industry globally, including Portage Ventures, Spark Capital, Social Leverage, Tribe Capital, Horizons Ventures, Unbound, Eldridge, Positive Sum, Elefund, and Y Combinator.”
Alpaca’s easy to use APIs “allow developers and businesses to build apps, embed investing, andtrade algorithms.”
Alpaca and Weltio LLC are “not affiliated and neither are responsible for the liabilities of the other.”
Securities brokerage services are “provided by Alpaca Securities LLC (“Alpaca Securities”), member FINRA/SIPC, a wholly-owned subsidiary of AlpacaDB, Inc.” Technology and services are “offered by AlpacaDB, Inc.”
Cryptocurrency services are “made available by Alpaca Crypto LLC (“Alpaca Crypto”), a FinCEN registered money services business (NMLS # 2160858), and a wholly-owned subsidiary of AlpacaDB, Inc.”
Alpaca Crypto is “not a member of SIPC or FINRA.” Cryptocurrencies are “not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC.”