June 2025 Summaries

Backed, an EU-regulated issuer of tokenized financial products, aims to expand access to capital markets by offering xStocks, blockchain-based tokens backed one-to-one by underlying stocks, equities, and ETFs. Founded during the pandemic, the company emphasizes regulatory compliance and seeks to address barriers in emerging markets, where traditional brokerage infrastructure can be costly, complex, and inaccessible. xStocks are intended to allow users to buy, transfer, self-custody, and potentially use tokenized assets as collateral across exchanges and DeFi protocols, though they may provide economic exposure rather than direct ownership, voting rights, or dividend entitlements. Backed is partnering with Alpaca to use its brokerage infrastructure and API for asset custody, automation, and scalable expansion beyond its initial offering of more than 57 tokenized securities. Its stated goals include reaching $1 billion in assets under management, increasing adoption and lending-market activity, expanding to additional public blockchains and exchanges, and serving more users in emerging markets, while acknowledging that tokenized assets and cryptocurrencies carry substantial financial, operational, regulatory, and market risks.

Founded in Kazakhstan in 2021, Investlink aims to expand access to regulated US financial markets for Central Asian investors through a localized, mobile-first brokerage platform with transparent pricing and support. Using Alpaca’s Broker API and infrastructure, the company offers US stocks and ETFs, margin and extended-hours trading, high-yield cash products, and recently introduced options trading, which it pairs with investor education focused on risk management and portfolio uses. Investlink reports that its product expansion has supported engagement among both new and affluent investors, while its future plans include Shariah-compliant investments, cryptocurrency trading, fractional shares, demo accounts, multi-account features, and bonds or other fixed-income products. The account also emphasizes that investing, options, crypto, extended-hours trading, and fixed income carry material risks, and that the cited cash yield and insurance protections are subject to specific terms, limitations, and potential changes.

Kernel, a New Zealand-based licensed fund manager founded in 2019, has built a digital wealth platform combining savings, retirement accounts, and index funds to serve investors seeking integrated, technology-focused financial tools. Responding to demand for broader diversification, the company launched US stock and ETF trading through Alpaca’s Broker API, offering fractional shares from NZ$1, NZD-denominated portfolio balances, and tiered subscription features. Kernel says Alpaca’s infrastructure and support enabled its 24-person team to integrate trading efficiently into its existing platform, while the company reported 140% growth in 2024. Kernel now aims to increase adoption among existing and first-time traders, expand investment products into additional funds and markets, and add education resources, including links to independent financial advisers. The account also notes that investing, including fractional-share trading, involves risks and does not guarantee returns.