Alpaca raises $135M to fund tokenized agent infrastructure
Alpaca raises 135m fund support after closing a $135 million equity round led by Peak XV, plus up to $300 million in debt from Kraken parent Payward and BMO. The BNP-backed brokerage infrastructure firm will accelerate agent-first and API-first prime brokerage rails for tokenized markets and AI-native finance. Cointelegraph reported the raise on Thursday as DeFi and TradFi firms push more business onchain.
Key Takeaways
- Alpaca raised $135 million in equity financing led by Peak XV.
- The company also lined up as much as $300 million in debt from Payward and BMO.
- Proceeds will speed agent-first brokerage and API-first prime brokerage infrastructure.
- A January Series D raised $150 million and valued Alpaca at $1.15 billion.
- Tokenized stocks' global market cap recently hit a record $2.3 billion, per Token Terminal data cited by Cointelegraph.
Why does Alpaca's $135M raise matter now?
Brokerage infrastructure provider Alpaca said it closed the new equity round as demand grows for regulated rails that can serve both traditional markets and onchain assets. The firm is already known as a BNP-backed player expanding into tokenized markets and AI-native financial services.
That timing matters because more crypto platforms are moving traditional investment products onto blockchain rails. Cointelegraph noted that the global market capitalization of tokenized stocks reached a record $2.3 billion, according to data aggregator Token Terminal.
For readers following Fintech & Crypto Alerts, the raise is a signal that brokerage plumbing—not just consumer apps—is attracting large checks in the tokenization wave.
Who backed the new Alpaca financing?
According to Cointelegraph, Peak XV led the $135 million funding round. Debt financing of as much as $300 million came from Payward, the parent company of Kraken, and BMO.
Earlier backers include the venture capital arm of BNP Paribas, which helps explain the "BNP-backed" framing around Alpaca's brokerage infrastructure business. In January, a Series D round brought in $150 million and lifted the fintech's valuation to $1.15 billion, Alpaca said in its statement as reported by Cointelegraph.
How will Alpaca use the capital?
Alpaca said it will use the new financing to accelerate its agent-first brokerage and API-first prime brokerage infrastructure. The goal is to support financial companies building products across traditional and tokenized markets as AI tools spawn new market participants.
"As tokenization reshapes access to global markets and AI accelerates the creation of new financial applications and market participants, demand is growing for regulated infrastructure built for this paradigm shift," said Yoshi Yokokawa, co-founder and CEO of Alpaca, in remarks carried by Cointelegraph.
The company also sits closer to mainstream crypto distribution. Cointelegraph reported that last month Binance disclosed a revenue-sharing arrangement with Alpaca, which provides brokerage, clearing, and custody infrastructure for Binance's stock trading product.
What does this mean for tokenized markets?
The raise underscores a broader push by DeFi and TradFi companies to pursue onchain business through regulated intermediaries. Alpaca's bet is that agent-first and API-first rails can become the default layer for tokenized equities and AI-native investing products.
Whether that thesis holds will depend on adoption beyond headline market-cap figures. For now, the $135 million equity infusion—and the accompanying debt capacity—give Alpaca fresh runway to scale the infrastructure behind those products.