Product Manager, Digital Assets - Tokenization

About Alpaca

Alpaca is a US-headquartered, global leader in agent-first brokerage infrastructure for stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more. We are a licensed financial services company serving hundreds of financial institutions across 40 countries with our institutional-grade APIs, supporting over 10 million brokerage accounts. Our mission is to open financial services to everyone on the planet.

We are a diverse, globally distributed team of 400+ members who thrive working from their favorite places around the world. We are backed by $400 million in funding from top-tier global investors.

Our core values are: Stay Curious, Have Empathy, and Be Accountable.

Your Role

Alpaca's product team is seeking a Product Manager to drive our tokenization surface, focusing on the Instant Tokenization Network (ITN) and the experiences for issuers, authorized participants, market makers, and brokers built on top of it. You will partner closely with engineering, compliance, legal, operations, partnerships, and the broader product team to scale regulated tokenization infrastructure. You will proactively identify and advise on tokenized securities and RWA policy developments.

Key Responsibilities:

• Drive the product vision, roadmap, and success metrics for Alpaca’s tokenization surface, including the Instant Tokenization Network (ITN) and related issuer/AP/broker experiences.
• Own flagship initiatives end-to-end, including mint and redeem flows, settlement and custody decisions, and on-chain issuance for partners.
• Prioritize effectively across partner demand, regulatory constraints, engineering capacity, and commercial upside, providing clear framing for decisions.
• Lead build-vs-buy, partner-vs-direct, and onshore-vs-offshore tradeoffs for tokenization infrastructure.

Partnerships & Growth:

• Conduct discovery with issuers, authorized participants/market makers, broker-dealers, exchanges, custodians, and institutional clients integrating Alpaca’s tokenization rails.
• Own the AP and issuer experience, including documentation, sandbox parity, onboarding workflows, exception handling, and operational loops.
• Translate partner needs into sequenced product decisions without over-promising, and represent tokenization credibly in partner conversations.
• Shape broker enablement (APIs, SDKs, docs, reference integrations) to empower broker partners and fintechs to access tokenized equities.

Regulatory & Policy:

• Partner with Legal and Compliance on transfer-agent, broker-dealer, custody, AML, and tokenized-securities frameworks, ensuring regulatory requirements are cleanly integrated into product and operational design.
• Surface early signals on policy and competitive moves in tokenized securities/RWA to inform the Digital Assets roadmap.
• Align Engineering, Ops, Finance, Risk, BD, and leadership behind a unified tokenization roadmap, escalating tradeoffs and unblocking the team.

Who You Are (Must Haves):

• Passionate about Alpaca's mission and eager to own a strategically important Digital Assets surface.
• Bachelor’s degree in computer science, engineering, finance, or equivalent.
• 6+ years of experience in Product Management, Engineering, or startup founding, with senior-level ownership in tokenization, digital assets, brokerage, exchanges, market infrastructure, or capital-markets technology.
• Demonstrated ownership of tokenized securities, RWA issuance, on-chain settlement, or closely related regulated digital-asset products at production (or near-production institutional) scale.
• Strong understanding of equity/capital-markets market structure (trading, custody, clearing/settlement, stock loan/borrow, post-trade operations) and their mapping onto blockchain rails.
• Experience shipping in a regulated environment, collaborating with Legal, Compliance, Risk, and Operations, and comfortable with ambiguity and real-time tradeoffs.
• Proven ability to conduct partner/customer discovery and translate it into a prioritized roadmap, with excellent written and verbal communication skills for engineering and executive audiences.
• Business acumen to weigh ROI, partner demand, regulatory risk, tech feasibility, time, and budget.
• Proficient in using AI tools to enhance PM workflows.

Who You Might Be (Nice-to-Haves):

• Direct experience at a broker-dealer, exchange, transfer agent, custodian, market maker, or institutional digital-asset/RWA platform.
• Experience with tokenized money market funds, tokenized securities, RWA issuance, or other regulated tokenized-asset products.
• Prior work on RFQ or atomic settlement flows.
• Background combining regulated financial product context with crypto-native infrastructure.

How We Take Care of You:

• Competitive Salary & Stock Options
• Health Benefits
• New Hire Home-Office Setup: One-time USD $500
• Monthly Stipend: USD $150 per month via a Brex Card