Product Manager, Digital Assets - Tokenization

Alpaca's product team is looking for a Product Manager to help drive Alpaca's tokenization surface - centered on the Instant Tokenization Network (ITN) and the issuer, authorized participant, market maker, and broker experiences built on top of it.

You will partner deeply with engineering, compliance, legal, operations, partnerships, and the broader Alpaca product team to ship regulated tokenization infrastructure at scale. You will be expected to provide early signal on tokenized securities and RWA policy developments rather than react after rules formalize.

Things You Get To Do:

• Drive the product vision, roadmap, and success metrics for Alpaca’s tokenization surface - centered on the Instant Tokenization Network (ITN) and adjacent 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 ruthlessly across partner demand, regulatory constraints, engineering capacity, and commercial upside - with clear yes / no / not now framing.
• Lead build-vs-buy, partner-vs-direct, and onshore-vs-offshore tradeoffs across  tokenization infrastructure
  

Partnerships & Growth

• Run 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 - documentation, sandbox parity, onboarding workflows, exception handling, and the operational loops 
• Translate partner needs into sequenced product decisions without over-promising; represent tokenization credibly in partner conversations alongside BD and Sales.
• Shape broker enablement (APIs, SDKs, docs, reference integrations) so broker partners and fintechs can access tokenized equities

Regulatory & Policy

• Partner with Legal and Compliance on transfer-agent, broker-dealer, custody, AML, and tokenized-securities frameworks; land regulatory requirements cleanly into product and ops design.
• Surface early signal on policy and competitive moves in tokenized securities / RWA - feed them into the Digital Assets roadmap before rules or rivals force a scramble.
• Align Engineering, Ops, Finance, Risk, BD, and leadership behind a single tokenization roadmap; escalate tradeoffs early and unblock the team.

Who You Are (Must Haves):

• Excited about what Alpaca is building and ready to own one of the company’s most strategically important Digital Assets surfaces.
• Bachelor’s degree in computer science, engineering, finance, or equivalent.
• 6+ years of experience in Product Management, Engineering, and/or starting a startup, 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, and post-trade operations - and how those workflows map onto blockchain rails.
• Experience shipping in a regulated environment alongside Legal, Compliance, Risk, and Operations - comfortable with ambiguity and real-time tradeoffs, not waiting for perfect alignment.
• Proven ability to run partner / customer discovery and turn it into a prioritized roadmap; excellent written and verbal communication across engineering and executive audiences.
• Business acumen to weigh ROI, partner demand, regulatory risk, tech feasibility, time, and budget.
• AI-native PM workflow; AI is part of your daily stack in getting work done.

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, atomic settlement flows
• Background combining regulated financial product context (broker-dealer, exchange, custodian) with crypto-native infrastructure.