Alpaca has secured US$435 million in a new financing package, which includes US$300 million in debt financing from Payward, the parent company of major cryptocurrency exchange Kraken, and Canadian bank BMO.

The remaining US$135 million consists of equity in a funding round led by Peak XV with significant participation from Elefund.

Other new and returning investors in this round include Unbound and Opera Tech Ventures, the venture capital arm of BNP Paribas Group.

“We will use the new financing to accelerate our agent-first brokerage and API-first prime brokerage infrastructure, enabling financial companies and institutional clients to build and scale investing products across traditional and onchain markets,” said Yoshi Yokokawa, Co-Founder and CEO of Alpaca.

Tokenization on the Rise, but Not Without Issues

A growing market for tokenised equities is already attracting attention from trading platforms and brokerages seeking revenue streams beyond traditional stock and CFD trading, as well as expanding into 24/7 trading.

However, the operational complexities of these offerings were recently highlighted when four crypto platforms – Binance, Bybit, Bitget Wallet and MEXC – cancelled tokenized SpaceX IPO allocations and refunded users.

This occurred after the partner firm, xStocks, was unable to secure the underlying shares.

The incident served as a reminder that while minting a token is straightforward, securing the physical underlying shares that provide its real-world value remains a complex process.

Toward a Global Push

The new capital injection builds on a period of business growth for the brokerage platform, following a US$150 million Series D announced in January 2026, which valued it at US$1.15 billion.

Earlier in 2026, Alpaca completed the regulatory preparation required to offer its investment infrastructure across 29 European Economic Area (EEA) countries from its base in Spain.

The company is approaching the European market with its established US self-clearing operation and a newly active MiFID II passport.

Its European equities business remains in its early stages, having launched on Germany’s Xetra in April, with more trading venues expected to follow.

This European expansion runs alongside growth in other key regions. Alpaca recently completed its acquisition of UK-based investment infrastructure provider WealthKernel.

Furthermore, earlier this year, it agreed to acquire a broker-dealer in India’s GIFT City, extending its licensed reach to a fourth global region.

This article was written by Adonis Adoni at www.financemagnates.com.FinTechRead More

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