Alpaca Launches Funding Wallets for Broker API

Alpaca introduces Funding Wallets for their Broker API to simplify fund deposits and withdrawals, enhancing user experience.

The new feature eliminates the need for manual wire transfer instructions, using local rails for faster settlement in local currencies.

Unique funding wallet numbers for each user ensure precise fund allocation to brokerage accounts, reducing errors and improving efficiency.

Funding Wallets will provide better accuracy, visibility, and help in streamlining record keeping for businesses.

The service is free to use for deposits, but withdrawal and foreign exchange fees will apply.