Crypto exchange Backpack has unveiled its securities platform, Backpack Securities, enabling users to hold real U.S. stocks and ETFs through regulated market infrastructure. These traditional assets can then be minted into tokenized securities on the Solana blockchain, allowing for free on-chain transfer and trading, bridging the gap between traditional finance and the crypto ecosystem.
The platform features a three-layer architecture: physical custody ensures compliant asset holding, blockchain tokenization maps ownership rights onto on-chain tokens, and a unified portfolio interface provides one-stop management. The system supports dividend distribution and asset transfers from existing brokerage accounts. Thanks to its integration with the Solana-based protocol Sunrise, the tokenized securities circumvent traditional market hours, achieving 24/7 uninterrupted trading, and can seamlessly interact with DeFi protocols for lending, staking, and other use cases, greatly enhancing capital efficiency.
Founded in late 2023 by former FTX core members, Backpack gained prominence through the Mad Lads NFT collection on Solana. The launch of its securities platform signals the exchange's expansion from pure cryptocurrency trading into tokenization of traditional assets. Brokerage services are scheduled to roll out gradually in June, offering users a new on-chain securities trading experience.