Backpack Launches 24/7 Trading for Tokenized US Equities; Market Grows 28.6% in 30 Days

According to Backpack, the crypto exchange launched 24/7 trading for tokenized US equities in June, offering direct ownership of securities including SpaceX, Micron, and SanDisk to users in over 150 countries. Trades settle instantly and can be funded in fiat currency or stablecoins. The platform also offers Solana-based tokenized versions that can be transferred between wallets and converted 1:1 into corresponding shares.

The tokenized equities market has expanded to $1.85 billion over the past year, according to RWA.xyz data. Monthly transfer volume climbed 85% over the past 30 days to $8.76 billion. Traditional financial institutions are entering the sector; the SEC approved Nasdaq's pilot for tokenized stock trading in March, and the Depository Trust & Clearing Corporation announced plans to launch a tokenized securities service in October.