The Alpaca that provides US stock brokerage matching for Binance not only has top-tier US market makers and Japanese banking consortia among its investors. According to new documents disclosed by Binance yesterday, Binance is also an investor in this brokerage, holding a minority stake, so Alpaca is basically part of the family now. The founder is a Japanese guy based in San Francisco, with a background as a full-time day trader, and previous experience at Lehman and Nomura.