Alpaca raises $135M to scale tokenized U.S. equities infrastructure
The brokerage already clears or custodies about 94% of tokenized U.S. stocks, making the raise a bid to own the settlement layer before Coinbase and Kraken close in.
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The brokerage already clears or custodies about 94% of tokenized U.S. stocks, making the raise a bid to own the settlement layer before Coinbase and Kraken close in.
The headline $8.7B RWA figure sits on a thin base of concentrated products, but the $1B weekly flow into tokenized equities shows real bid, not marketing.
Solana alone handled $5.77B in tokenized-asset spot volume in Q2 2026, over 7x the prior six-month combined total, with the chain now sitting on 97% of cumulative on-chain equity volume and Raydium…
The crackdown funnels mainland retail back toward onshore venues and licensed cross-border channels — a tailwind for centralized exchanges and on-chain US stock trading that have already been…