Crypto brokerage infrastructure provider, Alpaca, has raised $135 million in an equity funding round led by Peak XV to expand the infrastructure that enables exchanges and tokenization platforms to offer U.S. stocks on blockchain networks, the company said on Thursday.

The round included participation from Elefund, BNP Paribas’ Opera Tech Ventures and Unbound, bringing Alpaca’s total funding to about $435 million, including debt financing.

Alpaca said it has previously cleared or held in custody about 94% of tokenized U.S. equities and now holds more than $1.5 billion in the underlying stocks, including products connected to leading entities like:

The fresh capital will be used to expand its brokerage…