Crypto brokerage firm Alpaca has raised $135 million in new funding to support infrastructure for tokenized stocks, according to CoinDesk.
The company said it has previously cleared or held in custody roughly 94% of tokenized U.S. equities and now holds more than $1.5 billion in underlying stocks. The figures point to Alpaca’s role in the plumbing behind a growing segment of the market that seeks to represent traditional shares on blockchain rails.
Tokenized stocks have attracted increasing attention as brokerages, fintech firms and crypto platforms look for ways to connect conventional securities markets with digital asset infrastructure. In practice, that means building systems for custody, clearing and settlement that can support token-linked exposure while still interfacing with existing market structures. Alpaca’s latest raise suggests investors are willing to back that layer of the stack, even as broader adoption remains early.
The company did not disclose additional terms in the metadata provided. Based on the information available, the new capital appears aimed at expanding infrastructure rather than signaling a change in strategy. The size of the raise, combined with Alpaca’s stated custody footprint, may help it maintain a leading position in a niche but closely watched area of market structure.
The tokenized securities space has become a recurring theme in discussions about the future of brokerage and market access. Supporters argue that blockchain-based representations of equities could improve efficiency and broaden availability. Skeptics point to regulatory complexity, custody requirements and questions around how such products fit within existing rules. Those issues remain unresolved, and the market for tokenized stocks is still developing.
For now, Alpaca’s fundraise underscores continuing interest in the infrastructure needed to support these products. The company’s reported handling of a large share of tokenized U.S. equities suggests it already has meaningful scale in the segment, while its more than $1.5 billion in underlying stocks indicates a substantial traditional-market base behind the tokenization push.
CoinDesk reported the funding on July 16, 2026. Further details on investors or deployment plans were not included in the source metadata.
