Alpaca raises $135M to build brokerage rails for tokenized assets
VC & Fundraising ·
The multi-asset API platform for stocks, options, and crypto raised a $135 million round led by Peak XV Partners to expand infrastructure for tokenized markets and AI-native financial services.
The crypto brokerage firm confirmed the raise is intended to scale what it calls agent-first brokerage infrastructure, positioning its API platform to serve both tokenized stock markets and autonomous AI agents that trade or manage assets on behalf of users, according to Alpaca's own announcement. The company already operates as a multi-asset platform spanning stocks, options, and crypto trading, and the new capital is earmarked for building out the plumbing needed to support tokenized versions of traditional securities alongside machine-driven trading activity.
Coindesk reported that the funding is specifically aimed at tokenized stock infrastructure, framing Alpaca's push as part of a broader industry move to bring equities and other traditional assets on-chain. That framing lines up with separate coverage describing the round as backing for infrastructure that lets tokenized stocks trade alongside crypto within the same brokerage stack, rather than treating tokenized securities as a separate product line.
The round arrives as AI agents move from copilot-style assistants toward systems capable of holding wallets, executing trades, and interacting with financial infrastructure with less direct human input at each step, a shift outlined in broader sector coverage of AI agents tied to on-chain identities and payment rails. Brokerage platforms built to serve both tokenized asset markets and autonomous agents need to handle authorization, execution, and settlement in ways that differ from traditional retail trading interfaces, which is the gap Alpaca's new capital is meant to address.
Four distinct sources have covered the raise, consistently citing the $135 million figure and Peak XV Partners as lead investor, though the specific allocation of funds across tokenized-asset infrastructure versus agent-facing tooling has not been broken out in detail. Not yet disclosed is a timeline for when tokenized stock products or agent-native brokerage features built on this funding would become available to users, nor which other investors, if any, joined Peak XV in the round.