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Backpack launches 24/7 trading for select tokenized US equities

Backpack said international users will receive direct ownership of the underlying shares, with trades settling instantly and supported by liquidity from traditional exchanges.

Reported · Written up by our desk · Market Structure

Crypto exchange Backpack launched 24/7 trading for a limited selection of tokenized US equities, aiming to expand nonstop access for international investors.

The service lets users trade stocks including SpaceX, Micron and SanDisk around the clock. Backpack said investors receive direct ownership of the underlying securities rather than synthetic exposure, with trades settling instantly and funded in fiat currency or stablecoins.

Backpack also offers Solana-based tokenized versions of the securities that can be transferred between wallets, used in decentralized finance applications, and converted 1:1 into the corresponding shares through Backpack. The company said the service is available in more than 150 countries and regions.

Backpack said tokenized SpaceX shares became the most actively traded tokenized version of the private rocket and AI company after launching in June, though it did not disclose trading volumes. It also pointed to growth in tokenized equities, citing RWA.xyz data showing the tokenized stock market rising from about $379 million to $1.85 billion over the past year.

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