Alpaca
Also a provider — view Alpaca’s profile →“Can one developer-first API become the global de facto brokerage infrastructure for embedded investing?”
Alpaca began in 2015 as a machine-learning/database company (MarketStore) before pivoting into brokerage infrastructure — becoming a FINRA-registered broker-dealer in 2018 and shipping a developer-first commission-free trading API. Since then it has moved steadily up the stack: from an introducing broker relying on a clearing partner, to a fully self-clearing broker (DTCC 2023, self-clearing 2024, OCC/FICC/Nasdaq 2025). Its current thesis is embedded investing infrastructure globally — powering fintechs, neobanks, and tokenization platforms in 40+ countries with a single API for equities, options, fixed income, and crypto, plus embedded high-yield cash and stock lending.