You can find more information about Alpaca Crypto here: Your Alpaca Crypto account is separate from your brokerage account with Composer Securities and Alpaca Securities, which holds US-listed stocks and ETFs.
Securities products and services are offered through Composer Securities LLC and Alpaca Securities LLC, Member FINRA / SIPC.
Cryptocurrencies offered by Alpaca are held in your Alpaca Crypto account, are not securities, and are not FDIC insured or protected by SIPC.
Alpaca Crypto is a money services business registered with the Financial Crimes Enforcement Network (“FINCEN”) and a states-licensed money transmitter, but is not a registered broker-dealer or a FINRA member.
Cryptocurrency Services: Cryptocurrency trading, execution, and custody services are provided by Alpaca Crypto, LLC (NMLS ID:2160858).