Backpack Launches 24/7 Tokenized Equities With Direct Stock Ownership

Crypto exchange Backpack has launched 24/7 tokenized equities for selected US stocks, aiming at international investors. The product is designed for direct ownership of the underlying shares (not synthetic exposure) with instant settlement. Users can fund accounts with fiat or stablecoins. The initial lineup includes SpaceX, Micron, and SanDisk, with more assets planned. Backpack also issues Solana-based tokenized versions of the same securities. These tokens are meant to be transferable between wallets, usable in DeFi, and convertible 1:1 into the corresponding shares through Backpack. The company said tokenized SpaceX shares became the most actively traded tokenized version of the private firm since its June launch, but it did not disclose volumes. The rollout comes as the onchain real-world assets (RWA) market grows. The article cited RWA.xyz data showing tokenized stock market value rising from about $379M to $1.85B over the past year, with monthly transfer volume up over 85% to $8.76B. It also notes broader industry momentum, including Kraken’s xStocks expansion after acquiring Backed Finance, integrations by Bybit and Bitget, and tokenized equity offerings by Coinbase and Binance. In parallel, the SEC approved Nasdaq’s pilot to trade tokenized stocks alongside conventional shares, while DTCC plans a tokenized securities service in October after a multi-institution pilot. For traders, this 24/7 tokenized equities push could improve access and liquidity expectations for onchain stock exposure. Still, near-term price impact on crypto assets will likely depend on actual trading volumes, mint/burn flow, and competitive dynamics—so treat the announcement as mildly supportive but not yet a confirmed catalyst.