On June 2, PANews reported, according to The Block, that Backpack Securities, a new platform under Backpack, has launched, offering regulated U.S. stock brokerage services alongside tokenization of equities. Users can buy, hold, and sell actual U.S. stocks on the platform, enjoying dividends, corporate actions, and rights under systems such as ACATS and DTCC; they can also convert their holdings into tokenized securities that can be freely transferred and traded 24/7 on public blockchains like Solana. Backpack is currently partnering with Sunrise, a tokenization protocol within the Solana ecosystem, with the brokerage services expected to roll out gradually starting in June. The platform was founded by the former FTX team and the team behind Mad Lads NFT, having completed a $17 million Series A funding round in 2024.
Backpack Launches Platform Combining Traditional and On-Chain Stock Trading
PANewsShare
Summary
Backpack has launched Backpack Securities, a platform that combines traditional and on-chain stock trading. Users can access real U.S. stocks with dividends and tokenize their holdings on blockchains such as Solana. The platform partners with Sunrise, a Solana-based tokenization protocol, and is led by former members of FTX and the Mad Lads NFT team. Backpack raised $17 million in Series A funding in 2024. On-chain news highlights the platform’s dual approach to stock trading and digital asset integration.
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