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Alpaca raises $135M to expand tokenized agent-first brokerage

The BNP Paribas-backed brokerage infrastructure firm said it will also pursue up to $300M in debt financing tied to its agent-first and API-first prime brokerage buildout.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that Alpaca, a BNP Paribas-backed brokerage infrastructure provider, raised $135 million in a funding round led by Peak XV. The company also said it secured as much as $300 million in debt financing from Payward, the parent of Kraken, and BMO.

The new funding is intended to accelerate Alpaca’s agent-first brokerage and API-first prime brokerage infrastructure as tokenization and AI drive demand for regulated market access, according to the company. Alpaca CEO Yoshi Yokokawa said tokenization and AI are increasing the need for infrastructure built for that shift.

Cointelegraph adds that Alpaca’s value was previously boosted by a January Series D round that pulled in $150 million, bringing the fintech’s valuation to $1.15 billion, based on a company statement. Earlier investors include the venture capital arm of BNP Paribas.

The article also points to growth in tokenized markets, citing Token Terminal’s data that tokenized stocks reached a record $2.3 billion in market capitalization. It also notes that Binance disclosed a revenue-sharing arrangement with Alpaca last month, covering Alpaca’s brokerage, clearing, and custody infrastructure for Binance’s stock trading product.

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