Alpaca Says It Custodies 94% of Tokenized U.S. Stocks and ETFs

Alpaca said it clears or custodies roughly 94% of tokenized U.S. stocks and ETFs, backed by more than $1.5 billion of underlying shares. According to NS3.AI, the figure highlights Alpaca's role in the tokenized equities market as infrastructure for these products grows. The Depository Trust & Clearing Corporation is preparing to launch its Tokenization Service in October. The U.S. Securities and Exchange Commission has warned that third-party stock tokens can expose investors to additional ownership and intermediary risks.