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Backpack lets users post Micron and SanDisk shares as crypto margin

The exchange also launched 24/7 perpetual futures tied to MU, SNDK, SPY and QQQ, expanding trading beyond spot and traditional margin use.

Reported · Written up by our desk · Market Structure

Backpack has expanded the assets users can use as margin collateral on its unified portfolio-margin account by allowing Micron and SanDisk shares to be posted alongside crypto and other instruments, The Defiant reports.

According to the outlet, the exchange said stock holdings can support U.S. dollar borrowing, futures trades and spot margin, and that holders of the named shares can now contribute those equity positions as collateral within the same cross-asset account.

Backpack also introduced 24/7 perpetual futures on MU, SNDK, SPY and QQQ, adding to its earlier push to offer round-the-clock trading in selected U.S. equities for international investors.

The change is currently limited to two specified equity collateral assets and four perpetual markets, and Backpack did not provide a timetable for additional collateral or products, The Defiant added.

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