Cryptocurrency exchange Kraken on Monday announced a strategic partnership with Alpaca, a brokerage infrastructure API and self-clearing broker-dealer offering equities, options, fixed income, and crypto trading.

Through this partnership, Alpaca expanded its regulated crypto spot and derivatives trading capabilities by incorporating Kraken Embed, Kraken’s Crypto-as-a-Service (CaaS) solution.

The enhancement provides Alpaca’s more than 200 enterprise partners with seamless access to hundreds of cryptocurrencies powered by Kraken’s global and institutional-grade infrastructure through Alpaca’s unified Broker API.

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Brett McLain, Head of Payments and Blockchain at Kraken said that with Kraken Embed, financial institutions could offer compliant end-to-end crypto solutions without the burden of managing complex infrastructure, making it faster and easier to meet growing user demand.

Kraken’s liquidity and global network of regulatory licenses provide Alpaca’s partners with access to robust markets and efficient execution, the company said.

Combined with Alpaca’s regulatory licensing and infrastructure, the partnership delivers a full-service solution for multi-asset trading that enables clients to integrate equities and crypto into their apps with minimal engineering effort.

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This partnership is currently live in the United States and plans to expand to Canada, the European Union, and the United Kingdom in the near future. The roadmap also includes additional offerings, such as staking and crypto derivatives, supporting the needs of a growing user base for cryptocurrencies.

Kraken, legally registered as Payward Inc., is reportedly preparing to go public via an initial public offering as early as the first quarter of next year.

The company’s revenue more than doubled in 2024, reaching $1.5 billion, with adjusted earnings of $380 million. Since its founding in 2011, Kraken has raised approximately $27 million in primary funding.

Under the Trump administration, the regulatory environment has shifted, creating new opportunities for crypto firms.

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