Alpaca offers APIs and self-clearing custody that let other firms provide stocks, ETFs, options, crypto, and fixed income trading, powering the tokenization of U.S. equities and ETFs for hundreds of organizations—including Kraken—across more than 40 countries.

Its platform enables partners to offer trading without building their own infrastructure or licenses, with Kraken using Alpaca to provide equities trading.

Alpaca serves 300+ organizations and millions of brokerage accounts worldwide with a broad product suite, including stocks, ETFs, options, crypto, and fixed income.

New capital will fund global expansion of investment infrastructure, product enhancements, regulatory licensing in key jurisdictions, and deeper integration between traditional and decentralized finance.

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Drive Capital led the Series D, with participation from Citadel Securities, Opera Tech Ventures, DRW Venture Capital, Bank Muscat, Kraken, and Revolut CTO Vlad Yatsenko, along with a $40 million line of credit.

Drive Capital also joined Alpaca’s board as lead investor, alongside other strategic backers including Kraken and BNP Paribas’s venture arm.

Analysts highlight the cross-industry investor mix as supporting a view that tokenization could become a foundational layer for global capital markets, enabling broader liquidity and transparency.

CEO Yoshi Yokokawa says the mission is to open financial services to everyone and to build a global standard for brokerage infrastructure that accelerates delivery for partners and active traders.

Cybersecurity and platform stability are priorities as more regulated players adopt Alpaca’s technology to connect traditional finance with crypto through tokenized assets.

Alpaca announced plans to acquire Zincmoney IFSC, signaling its international expansion and licensing strategy.

The market context shows strong growth potential for tokenized assets, with regulators’ clarity aiding institutional adoption and parallel investments in related infrastructure.