Alpaca Raises $135M for Tokenized Stock Infrastructure

Alpaca raised $135 million in equity led by Peak XV, plus up to $300 million in debt from Kraken parent Payward and BMO, to expand tokenized stock infrastructure. The company clears or custodies roughly 94% of tokenized U.S. equities and holds over $1.5 billion in underlying stocks. A January Series D valued the firm at $1.15 billion.