Binance Stock Tokens Potential Partner Alpaca Overview: $150 Million Raised in January, Already Powers US Stock Support for Kraken

BlockBeats News, May 31st: Regarding today's hotly debated Binance Stock Sector's potential partner Alpaca, BlockBeats has compiled the following overview:

Founded around 2017, Alpaca is headquartered in San Mateo, California, USA. The company is a leader in the Brokerage-as-a-Service field, helping global partners quickly integrate U.S. stock trading functionality. Current partners include Kraken, SBI Securities, and the Thai financial investment app Dime!, among others.

According to The Information, Alpaca currently holds about 94% of the tokenized U.S. stocks and ETFs market share. Alpaca has also launched the Instant Tokenization Network in collaboration with Ondo Finance, Dinari, xStocks, and the Solana Foundation, enabling rapid 1:1 conversion between U.S. stocks and on-chain assets. In simple terms, Ondo Global Markets (Ondo's tokenized stock/ETF platform) is powered by Alpaca's Broker API. Therefore, this network may become one of the underlying technologies for Binance's "bStocks".

In January of this year, Alpaca raised $1.5 billion in funding at a valuation of $11.5 billion. The funding round was led by Drive Capital, with participation from Citadel Securities, cryptocurrency exchange Kraken, and the venture capital arm of BNP Paribas, Opera Tech Ventures. As part of the financing, Alpaca also secured a $40 million credit line.

Previous reports suggested that Binance may add U.S. stock trading with Alpaca providing custody and clearing services.