According to a June 13 report by TechFlow citing an official Backpack post, Backpack Securities announced on June 11 the launch of the $SPCX token. The token went live on Solana through SunriseDeFi after SpaceX’s Nasdaq listing, creating a connection between SpaceX stock exposure and Solana-based DeFi access.
Based on the announcement, users can trade stocks on the Backpack platform and use deposit and withdrawal functions to move assets between a traditional brokerage environment and a DeFi wallet on Solana. The disclosed setup places Backpack Securities, SunriseDeFi and $SPCX within the same asset transfer process, linking the stock trading interface with on-chain DeFi usage.
The information released so far describes two main parts of the product flow: stock trading through Backpack, and asset movement into a Solana DeFi wallet through deposits and withdrawals. The announcement did not disclose additional trading details, fee arrangements or further rollout plans.