$135 Million Infusion Fuels Alpaca's Expansion into Tokenized Securities

Crypto brokerage infrastructure provider Alpaca has raised $135 million in an equity funding round led by Peak XV to expand its infrastructure for tokenized securities and AI-native financial services.

The company plans to use the fresh capital to further develop its brokerage infrastructure, which enables exchanges and tokenization platforms to offer U.S. stocks on blockchain networks.

Alpaca has previously cleared or held in custody about 94% of tokenized U.S. equities, with over $1.5 billion in underlying stocks, including products connected to Binance, Ondo, and Dinari.

The market for tokenized equities has grown rapidly, increasing nearly 3,000% in 2025 to reach almost $1 billion in market value by January 2026. However, the market is highly concentrated among a few players, with Ondo dominating the market with over 200 tokenized stocks and funds.