December 2025 Summaries

In 2025, Alpaca significantly advanced its brokerage infrastructure by enhancing self-clearing capabilities, expanding global market access, and introducing new products such as multi-leg options, 24/5 trading, and a High-Yield Cash API. The company achieved membership with Nasdaq, OCC, and FICC to bolster its multi-asset clearing abilities and acquired WealthKernel to bolster operations in the UK and EU. Alpaca launched the Instant Tokenization Network to integrate traditional finance with blockchain technology, and expanded its crypto infrastructure to comply with MiCA standards. Partnerships with financial entities like Kraken and GoTyme Bank, along with a $52 million Series C funding round, facilitated Alpaca's mission to democratize financial services. The company was recognized with several industry awards, including the FinTech of the Year at the US FinTech Awards, and was named in CB Insights' Top 100 Most Promising Fintech list. As Alpaca looks toward 2026, it aims to further expand its global footprint, increase product offerings, and continue building infrastructure to make financial services more accessible worldwide.

Kraken has expanded its strategic partnership with Alpaca to accelerate the global adoption of xStocks, its fully collateralized tokenized equities, outside the United States. Since their launch, xStocks have seen rapid growth, facilitating over $13 billion in transactions, highlighting the increasing demand for compliant and blockchain-agnostic financial products. Alpaca will play a crucial role as the infrastructure partner, providing the necessary API infrastructure to help fintechs, developers, and institutions distribute xStocks. The integration of xStocks onto Alpaca’s Instant Tokenization Network aims to enhance real-time mint and redeem capabilities, setting a new standard for speed in the tokenization space. Both Kraken and Alpaca view this partnership as a step toward greater interoperability between fiat and on-chain financial systems, indicating a convergence of traditional finance and digital assets.

GoTyme Bank, a rapidly expanding digital bank in the Philippines formed by the Gokongwei Group and Tyme Group, has partnered with Alpaca to introduce a cryptocurrency investment feature, addressing the growing demand for digital financial solutions in the country. This initiative targets the 76% unbanked and underbanked Filipino population by providing a simple and secure platform to invest in cryptocurrencies like Bitcoin and Ethereum, facilitated by Alpaca's brokerage infrastructure API. Supported by the country's favorable regulatory environment for digital assets, the feature aims to empower Filipinos to diversify savings and hedge against currency fluctuations without needing extensive trading expertise. GoTyme Bank's approach contrasts with traditional crypto apps by offering an accessible user experience designed for everyday investors, leveraging Alpaca's global expertise to ensure confidence in participating in the digital economy.

Alpaca, a prominent provider of brokerage infrastructure APIs, has secured a dominant position in the market for tokenized US equities and ETFs, holding over 94% market share and managing more than $480 million in tokenized assets under custody. The company is also a leader in tokenized large and mega-cap US stocks, accounting for 97% of the market, with $217 million in assets. Alpaca's strategic partnerships with entities like Ondo Finance and Dinari are driving broader institutional and retail access to tokenized US equities globally. The shift towards tokenization, which is gaining momentum, is seen as a transformative force in the financial industry, with key figures like BlackRock's CEO Larry Fink and Robinhood's CEO Vlad Tenev highlighting its potential to revolutionize asset management by creating a 24/7 programmable financial ecosystem. Despite enthusiasm, the tokenization infrastructure, especially for US equities, remains underdeveloped due to slow settlement systems and regulatory challenges. Alpaca aims to bridge this gap with its Instant Tokenization Network, designed to integrate traditional financial systems with blockchain technology, thus enabling real-time settlement and scalable on-chain issuance. As a regulated clearing member and crypto-native platform, Alpaca positions itself as a leader in the tokenization infrastructure, ready to expand its network of partners and support the growing demand for tokenized financial products.

Eko, founded by Mart Vos in 2020, is a financial services company aimed at democratizing investment opportunities by allowing banks and credit unions to integrate low-threshold investment services directly into their digital platforms. The company provides a white-label solution that enables financial institutions to offer investment services starting at just $1, enhancing accessibility and fostering customer loyalty. By partnering with Alpaca, a leader in brokerage infrastructure APIs, Eko empowers banks to provide a range of investment options, including self-directed investing and IRAs, while maintaining compliance and reducing operational costs. This collaboration allows traditional financial institutions to compete with fintech companies and retain client assets by offering modern investment solutions within their existing digital banking environments. Eko plans to expand its partnerships to 50 institutions by year-end and aims to introduce additional services such as high-interest savings accounts and business accounts, furthering its mission to make investing simple and inclusive.