Crypto change Backpack has launched 24/7 buying and selling for choose tokenized US equities, permitting worldwide buyers to commerce shares together with SpaceX, Micron and SanDisk across the clock.
Beneath the preliminary providing, Backpack mentioned that buyers would obtain direct possession of the underlying securities somewhat than artificial publicity, with trades settling immediately and funded in fiat foreign money or stablecoins. The preliminary providing features a restricted collection of US equities, with further shares deliberate.
The corporate additionally provides Solana-based tokenized variations of the securities, which could be transferred between wallets, utilized in decentralized finance purposes and transformed 1:1 into the corresponding shares via Backpack.
Backpack mentioned the service is on the market to buyers in additional than 150 international locations and areas and that trades are backed by liquidity from conventional exchanges.
The corporate added that tokenized SpaceX shares grew to become essentially the most actively traded tokenized model of the personal rocket and AI firm after launching in June, although it didn’t disclose buying and selling volumes or present comparisons with competing choices.
Associated: Tokenized inventory transfers surge 105% in a month to $8.4B
Earlier this 12 months, Backpack unveiled a token distribution mannequin tied to its deliberate US preliminary public providing. Customers who stake the change’s native token for at the least one 12 months will likely be eligible to change it for firm fairness after the IPO, whereas a part of the token provide will stay locked till at the least one 12 months after the itemizing.
Conventional finance joins tokenized equities push
Backpack’s launch comes as tokenized equities have develop into one of many fastest-growing segments of the onchain real-world asset (RWA) market.
Based on RWA.xyz knowledge, the tokenized inventory market has grown from about $379 million to $1.85 billion over the previous 12 months. Over the previous 30 days alone, distributed worth has climbed 28.6%, whereas month-to-month switch quantity has surged over 85% to $8.76 billion.
Tokenized shares. Supply: RWA.xyz
Crypto exchanges have led a lot of that development. Kraken, which acquired xStocks developer Backed Finance in late 2025, has expanded the platform throughout its change, whereas Bybit and Bitget have additionally built-in xStocks. Coinbase and Binance have likewise rolled out tokenized fairness choices in latest months.
Conventional exchanges have additionally embraced tokenization. In March, the SEC permitted Nasdaq’s pilot to commerce tokenized shares alongside typical securities on the identical change, whereas the New York Inventory Trade partnered with Securitize to develop a 24/7 platform for tokenized shares and ETFs.
The next month, the Depository Belief & Clearing Company (DTCC) introduced plans to launch a tokenized securities service in October after a pilot involving greater than 50 monetary and crypto corporations.
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