We are excited to share that we've joined the Depository Trust & Clearing Corporation’s (DTCC) Industry Working Group. This group will provide feedback and collaboration on The Depository Trust Company’s (DTC’s) tokenization service, a major milestone in the adoption of tokenized US stocks.
DTCC recognizes Alpaca as a participating clearing member in their Industry Working Group. With Alpaca’s real-world experience in providing infrastructure for the tokenization of US stocks, we are uniquely positioned to help the DTCC in modernizing the US capital markets and view this as a critical step toward fulfilling our mission of opening financial services to everyone on the planet.
Last year we launched Alpaca’s Instant Tokenization Network, and by the end of 2025, we grew our position as the leading infrastructure layer supporting tokenized stocks and ETFs to 94% market share. Today, Alpaca is a global leader, partnering with notable companies building tokenized US equities offerings, including Anchored, Dinari, Ondo Finance, and xStocks (Kraken).
The DTCC custodies assets valued at over $114 trillion, with US equities representing $74.1 trillion (65%) of that value as of June 2025. The DTC’s tokenization service will begin with a defined list of highly liquid assets, including the Russell 1000, which represents 1,000 of the largest publicly traded US companies by market cap, major ETFs, and US Treasury bills, bonds, and notes.
With the initial limited production trades planned for July and the full launch of DTC’s tokenization service expected for late 2026, Frank La Salla, DTCC President and CEO, said in the release that “we believe tokenization will significantly change how markets work and operate, bringing new levels of liquidity, transparency and efficiency to investors.” Additionally, their release claims that DTC-custodied assets will provide the same entitlements, investor protections, and ownership rights as assets held in traditional form.
As a DTCC member, our focus is on working collaboratively with DTCC and the Industry Working Group to develop best practices, advance industry readiness, and provide the infrastructure layer supporting tokenized stocks. We are committed to actively driving innovation alongside premier organizations like DTCC, advancing our vision to build a global de facto standard infrastructure for investing. Learn more about tokenization infrastructure with Alpaca or contact us below.
Contact Alpaca
About Alpaca
Alpaca is a US-headquartered, self-clearing broker-dealer and a global leader in brokerage infrastructure APIs providing access to stocks, ETFs, options, fixed income, and crypto. Alpaca delivers embeddable finance solutions for tokenization, fully paid securities lending, high-yield cash, 24/5 trading, Shariah-compliant investing and more. Today, Alpaca powers over 7 million brokerage accounts across hundreds of fintechs and institutions in 40+ countries with over $170M in funding.
About DTCC
With over 50 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 20 locations around the world, DTCC, through its subsidiaries, automates, centralizes, and standardizes the processing of financial transactions, mitigating risk, increasing transparency, enhancing performance and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm innovates purposefully, simplifying the complexities of clearing, settlement, asset servicing, transaction processing, trade reporting and data services across asset classes, bringing enhanced resilience and soundness to existing financial markets while advancing the digital asset ecosystem. In 2025, DTCC’s subsidiaries processed securities transactions valued at U.S. $4.7 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $114 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes more than 25 billion messages annually. To learn more, please visit them at www.dtcc.com or connect with them on LinkedIn, X, YouTube, Facebook and Instagram.
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Alpaca's Instant Tokenization Network is owned and developed by AlpacaDB, Inc. and Alpaca Crypto LLC.
Additional geographic restrictions may apply for tokenization services based on local regulatory requirements. Neither Alpaca Crypto LLC nor Alpaca Securities LLC are the issuer of, nor directly involved in, the tokenization of any assets. Tokenization is performed by a third party. Tokenized assets do not represent direct equity ownership in any underlying company or issuer. Instead, tokenized assets generally provide economic exposure to the equity securities of an underlying issuer. As such, holders of tokenized assets have no voting rights, dividend entitlements, or legal claims to the underlying company shares or any residual assets in the event of the underlying company’s liquidation or insolvency, unless explicitly stated otherwise. All investments involve risk. For more information, please see our Tokenization Risk Disclosure.
Cryptocurrency is highly speculative in nature, involves a high degree of risks, such as volatile market price swings, market manipulation, flash crashes, and cybersecurity risks. Cryptocurrency regulations are continuously evolving, and it is your responsibility to understand and abide by them. Cryptocurrency trading can lead to large, immediate and permanent loss of financial value. You should have appropriate knowledge and experience before engaging in cryptocurrency trading. For additional information, please click here.
Cryptocurrency services are made available by Alpaca Crypto LLC ("Alpaca Crypto"), a FinCEN registered money services business (NMLS # 2160858), and a wholly-owned subsidiary of AlpacaDB, Inc. Alpaca Crypto is not a member of SIPC or FINRA. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC. Please see the Disclosure Library for more information.
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