NEW YORK: As cryptocurrency platforms push into stock trading, a brokerage technology startup is preparing to enter a Wall Street business long dominated by major banks – financing trades for hedge funds and other large investment firms.

Alpaca, the startup that provides trading and custody technology to financial institutions, plans to launch a prime brokerage business in the first quarter of financial year 2027, chief executive officer Yoshi Yokokawa said.

The company is seeking to capitalise on growing demand for services that allow investors to trade across cryptocurrency platforms and conventional stock markets.

“Why do we need a prime broker to…