Alpaca Adds Broadridge Proxy Voting to Tokenized Stock Network

Instant tokenization

In a joint 20 Jul statement, the companies said US-based Alpaca, a self-clearing broker-dealer that provides brokerage-infrastructure APIs to fintechs and institutions, would continue to provide the regulated brokerage infrastructure that supports the tokenization of equities, including custody and clearing services of the underlying asset.

Introduced in October 2025, Alpaca's Instant Tokenization Network is a 24/7 API infrastructure that bridges traditional finance and decentralized finance (DeFi) by enabling in-kind minting and redemption of tokenized US stocks against brokerage-held shares at par. It debuted with Solana as its exclusive settlement chain and acts as a conversion layer, letting institutional partners exchange brokerage-held assets for digital tokens through a single API call. 

Alpaca's tokenization disclosure states that the tokens are issued by third parties and do not represent direct equity ownership, with the underlying securities held by Alpaca Securities LLC.

Tokenization involves converting assets such as stocks or property into digital tokens on a blockchain, while DeFi refers to peer-to-peer financial services built on blockchains that seek to remove intermediaries such as banks.

Governance giant

Broadridge processes more than 7bn investor communications a year and underpins daily trading of more than $15tn of securities across 21 countries, according to the company. It will provide shareholder governance services, including proxy voting, investor communications, regulatory disclosures and voting entitlement reconciliation.

"Tokenization has the potential to expand access to global capital markets, but it must preserve the investor protections that market participants already expect," said Yoshi Yokokawa, co-founder and CEO of Alpaca, which supports more than 10mn brokerage accounts at hundreds of fintechs and institutions in more than 40 countries.

Replicating traditional norms 

For New York-based Broadridge, the partnership expands on its platform for more than 200mn retail and institutional investor accounts globally. "We're now bringing those same capabilities to tokenized equities – enabling accurate voting, specialized investor experiences and regulatory disclosures," said Doug DeSchutter, president of Broadridge's Investor Communication Solutions business.

Retail holders will vote through Broadridge's ProxyVote.com service, while institutional investors can route votes on tokenized holdings through existing workflows, including voting choice programmes. The arrangement routes tokenized equities through existing proxy and shareholder-communications systems rather than parallel voting infrastructure built for onchain assets.

Not new for Broadridge

Broadridge went live with onchain governance in April 2026. Galaxy, which issued its own native tokenized equity, later used the platform for the first tokenized-equity shareholder vote by a US public company, at its May annual meeting. An arrangement with tokenization platform Ondo Finance, which tokenizes third-party shares, followed. 

In May, Broadridge extended proxy voting and disclosure to third party-custodied tokenized securities, which it says completes coverage of the tokenization models outlined by the US Securities and Exchange Commission (SEC).

With regulation around tokenized equities still in flux, shifts in how regulators view onchain ownership and proxy processes could alter this type of setup. Other risks could include operational and technology barriers to integrating traditional proxy systems with blockchain-based tokenization rails.