Alpaca's Tokenization Network Dominates US Equity Market

Alpaca's Instant Tokenization Network has become the backbone of most institutional efforts to bring traditional US equities onto blockchain rails. The network clears or custodizes roughly 94% of all tokenized US equities, managing more than $1.5B in underlying stocks.

The core proposition is deceptively simple: approved institutions hold shares in Alpaca brokerage accounts and can mint tokens directly from those holdings through the ITN API. This eliminates settlement delays, reduces friction, and avoids taxable events that cash conversions can trigger.

Alpaca's partnership with Ondo Finance integrated tokenized equity positions into Ethereum and BNB Chain, allowing institutions to convert between traditional equities and tokenized versions almost instantly. The company raised $150M in a Series D round in January 2026 and an additional $135M in July 2026.

Alpaca's ITN has grown from a concept demo to the backbone of most tokenized US equity activity in less than a year, since its launch on October 2, 2025. The company's FINRA-regulated broker-dealer status ensures that shares underlying every token sit within a compliance framework trusted by institutional investors.