Brokerage Infrastructure & API Brokers deliver regulated broker-dealer capabilities through embeddable APIs, enabling fintech companies and digital platforms to offer securities trading without obtaining their own brokerage licenses or building core infrastructure. These services handle account opening, KYC/AML compliance, custody, trade execution, clearing and settlement, and regulatory reporting. The category includes full-service brokerage-as-a-service providers that offer end-to-end trading infrastructure, fractional share specialists, order routing APIs, and market data distribution platforms. Originally focused on serving robo-advisors and wealth management platforms, the category has expanded to support embedded finance use cases across neobanks, consumer apps, and corporate benefits platforms. Recent evolution includes real-time settlement capabilities, cryptocurrency trading integration, and enhanced developer tooling that accelerates time-to-market for investment features while maintaining regulatory compliance across multiple jurisdictions.