Backpack Launches 24/7 Trading for Tokenized US Stocks, Supports SpaceX, Micron and Others

CoinFeed reported on July 11, according to Cointelegraph, crypto exchange Backpack has launched partially tokenized US stock 24/7 trading services for international investors, initially supporting SpaceX, Micron, and SanDisk. Backpack stated that investors will gain direct ownership of the underlying securities rather than synthetic exposure, with instant settlement, supporting deposits in fiat or stablecoins, the service covers over 150 countries and regions, with liquidity support provided by traditional exchanges. The tokenized versions are based on Solana, can be transferred between wallets, used in DeFi applications, and can be redeemed 1:1 for the corresponding stocks through Backpack. Backpack stated that the tokenized SpaceX stock has become the most actively traded version since its launch in June.