Sunrise, a DA layer interoperability protocol, has partnered with Backpack Securities, a compliant U.S. broker, to list the tokenized stock of Micron Technology (MU) on the Solana blockchain. Users can trade the tokenized MU directly on the Backpack platform and, if they prefer physical shares, redeem them through Backpack. The redeemed shares can then be transferred to any traditional brokerage account via the ACATS/DTCC system.
Backpack Securities is a U.S.-regulated broker responsible for the issuance, custody, and redemption of the tokenized stock. Sunrise, built by Wormhole Labs, serves as a Solana-native asset on-ramp gateway, handling liquidity coordination and ecosystem-wide distribution. This partnership bridges traditional tech equities with decentralized finance (DeFi), offering Solana users a new real-world asset (RWA) investment option.
The listing of MU represents another step in expanding tokenized assets on Solana, bringing traditional financial instruments onto a blockchain network known for its speed and low transaction costs.