Alpaca, a crypto brokerage infrastructure provider, has raised $135 million in equity funding to grow its platform for tokenized U.S. stocks. This strengthens its position in the fast-growing digital finance sector. The round was led by Peak XV, with Elefund, BNP Paribas’ Opera Tech Ventures, and Unbound also investing.
With debt financing included, Alpaca’s total funding now stands at $435 million, giving the company more resources to speed up the growth of its tokenized equity platform.
We are grateful to announce a $135 million raise led by @peakxvpartners, with major participation from @ElefundVC. Additional new and returning investors include Opera Tech Ventures, the venture capital arm of BNP Paribas Group, and Unbound 🚀 pic.twitter.com/B8ogVGop0r
— Alpaca (@AlpacaHQ) July 16, 2026
This new funding comes after Alpaca’s $150 million Series D round earlier this year, which valued the company at $1.15 billion. Most of the debt financing came from Kraken’s parent company, Payward, and BMO, showing that institutions remain interested in blockchain-based financial infrastructure.
Alpaca is a key player in the tokenized equity space. The company says it currently clears or holds about 94% of tokenized U.S. equities, including those linked to major platforms like Binance, Ondo, and Dinari. Alpaca reports that over $1.5 billion in underlying stocks support the tokenized equities on its platform.
Tokenized stocks are different from cryptocurrencies. Licensed financial institutions, who also manage voting rights, dividends, and stock splits, are required to own the underlying shares. Because Alpaca provides the infrastructure that links traditional securities markets with blockchain networks, tokenized stocks can function within current rules.
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