Lead Product Manager, Crypto

As Lead Product Manager for Crypto at Alpaca, you own the regulated crypto product surface and lead across Alpaca's crypto programs. You will grow a portfolio spanning crypto trading, multi-asset cross-margin, borrow/lend/earn, custody, on-chain settlement, tokenization (transfer agent, tokenized money market funds, on-chain issuance), and partnership programs from idea to launch. You partner deeply with engineering, compliance, legal, partnerships, and the broader product team to ship regulated crypto infrastructure at scale, and you help shape the crypto product itself while providing early signal on US policy changes.

What you'll do

• Lead Alpaca's crypto product strategy across trading, borrow/lend/earn, custody, on-chain settlement, and tokenization
• Own flagship initiatives end-to-end, including multi-asset cross-margin, licensing build-out, transfer-agent-licensed tokenization, on-chain issuance for partners, stock loan tokenization, and tokenized money market funds
• Drive build-vs-buy, partner-vs-direct, and onshore-vs-offshore tradeoffs across regulated crypto products
• Take leadership of a portfolio of in-flight crypto projects, with autonomy to set priorities, escalate tradeoffs, and unblock the team
• Take partnership programs end-to-end: idea to launch to PR to growth, such as exchange-grade partnerships
• Run discovery with prospective and existing partners including broker-dealers, exchanges, custodians, stablecoin issuers, neobanks, and institutional clients
• Translate partner needs into prioritized product decisions with clear yes/no/not-now framing
• Engage directly with US regulators and policy stakeholders (NY DFS, SEC, FinCEN, FINRA), partnering with internal legal and compliance on transfer-agent, broker-dealer, and tokenized-securities frameworks
• Provide early signal on US policy changes and feed that signal into the broader Alpaca roadmap before rules formalize
• Own the operational and regulatory implications of crypto product launches, including custody, settlement, AML, and market integrity
• Help build and develop the Alpaca crypto PM team by hiring and ramping existing PMs, and setting bar and standards across the cluster
• Represent crypto in cross-functional forums including product reviews, partner executive syncs, and leadership-level discussions

What you bring

• Bachelor's degree in computer science, engineering, finance, or equivalent
• 8+ years of experience in Product Management, Engineering, and/or starting a startup, with senior-level ownership in crypto, brokerage, exchanges, or financial infrastructure
• Demonstrated ownership of regulated crypto products at production scale across any of the following: borrow/lend/earn, multi-asset cross-margin, custody, on-chain settlement, tokenization, or stablecoin/payment rails
• Direct experience navigating US crypto regulatory frameworks including NY DFS BitLicense, SEC transfer-agent rules, FinCEN, FINRA broker-dealer rules, and SEC tokenized-securities frameworks
• Track record of taking partnership programs from idea to launch to PR to growth
• AI-native PM workflow; AI is part of your daily stack in getting work done
• Business acumen to understand tradeoffs between stakeholders and technology feasibility with time and budget constraints

Nice to have

• Hands-on web3/on-chain engineering fluency across wallets, L1/L2, atomic on-chain mint flows, and MEV-aware design
• Experience with tokenized money market funds, tokenized securities, RWA issuance, or other regulated tokenized-asset products
• Direct experience launching crypto borrow/lend, prime brokerage, or cross-margin products at scale
• Familiarity with onchain settlement layers, including broker-dealer integration patterns, and stablecoin payment rails
• Direct experience navigating SEC/DFS/FINRA in a startup setting, not just at a large bank or exchange
• Background combining regulated financial product context (broker-dealer, exchange, custodian) with crypto-native infrastructure

What we offer

• Competitive salary and stock options
• Health benefits
• New hire home-office setup: one-time USD $500
• Monthly stipend: USD $150 per month via a Brex Card

About Alpaca

Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure platform for stocks, ETFs, options, crypto, fixed income, and 24/5 trading. Backed by top-tier global investors including Portage Ventures, Spark Capital, Tribe Capital, and Y Combinator, Alpaca serves hundreds of financial institutions across 40 countries with institutional-grade APIs, totalling over 9 million brokerage accounts. The company's global team of 230+ is distributed across the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and beyond.