According to market data, the Backpack token (BP) surged 47.2% in 24 hours, breaking above 0.21 USDT as trading volume spiked. The rally was ignited by Backpack's announcement yesterday of its new Backpack Securities platform.
The platform enables investors to buy, hold, and sell real stocks backed by regulated U.S. securities infrastructure. Unlike tokenized stock products on many crypto exchanges, Backpack Securities routes orders directly to core liquidity pools of U.S. equity markets such as the New York Stock Exchange and Nasdaq, ensuring that trades are executed at genuine market prices without the spreads or slippage introduced by platform market-making. Additionally, underlying asset custody and settlement are handled by licensed U.S. institutions, giving investors legal protections equivalent to those of direct brokerage accounts. Users can trade using their existing Backpack crypto wallets, greatly lowering the barrier to entry.
Industry observers noted that by combining robust traditional securities infrastructure with crypto-native access, Backpack has given the BP token a tangible use case, sparking a short-term influx of buying that drove the price spike. As of press time, BP was trading around 0.21 USDT, maintaining a 47.2% 24-hour gain. The market will closely watch actual usage metrics when the platform officially launches.