Backpack launches 24/7 U.S. Equities

Crypto wallet and exchange, Backpack, has launched 24/7 trading for international investors, allowing the buying and selling of real U.S. shares, starting with SpaceX (SPCX), Micron Technology (MU), and SanDisk (SNDK).

Now traders outside the U.S. who previously had to wait for Wall Street’s opening bell, or settle for derivative products, can have American stocks at their fingertips.

According to the company’s announcement, buyers hold the actual securities they acquire, with each position backed one-to-one by shares kept in U.S. custody. Holders are also entitled to dividends and corporate actions, the same as any registered shareholder.

Backpack brings U.S. tokenized securities

Backpack’s tokenized securities platform draws liquidity from traditional exchanges to ensure prices are moving even when the markets are closed, making overnight and weekend trading possible. Trades are then completed immediately and can be funded with either stablecoins or fiat.

The exchange runs the tokenized copies of the stocks on Solana, and the tokens can move between wallets, plug into DeFi applications, and be converted back into traditional securities

“Market infrastructure is moving towards a simple idea: capital doesn’t sleep,” Armani Ferrante, Backpack’s co-founder and CEO, stated in the company’s press release. He described the new launch as building “the first 24/7 price discovery and hedging venue for real U.S. equities.”

Launch happened in stages

Thursday’s launch was the second leg of a plan that commenced in June with Backpack Securities. Backpack Securities went live in June, listing SPCX on June 12, the same day Backpack held its own Nasdaq IPO. Micron’s tokenized shares followed on June 22, timed just before the chipmaker’s Q3 earnings, and SanDisk joined this week.

Backpack claims its tokenized SPCX became the most actively traded on-chain version of the company’s stocks, with more than 10,000 holders and over $350 million in volume since June. However, there were no volume comparisons with other rival products in the company’s press release.

The crypto wallet and exchange says it serves users in more than 150 countries and has processed over $450 billion in trading volume. The company’s BP utility token, introduced in March 2026, allows holders who stake it to earn lower fees and rights to participate in equity.

Tokenization race moving fast

Backpack is one of several firms chasing 24/7 stock markets. According to data from RWA.xyz, the tokenized stock market has grown from about $379 million to $1.85 billion over the past year, with monthly transfer volume up more than 85% to $8.76 billion.

Kraken bought xStocks developer Backed Finance in late 2025 and rolled out one such product within its exchange. Bybit, Bitget, Coinbase, and Binance have all added tokenized equities to their lineup.

The SEC also approved a Nasdaq pilot in March to trade tokenized stocks next to regular ones, while the New York Stock Exchange partnered with Securitize on a 24/7 trading platform. The DTCC has also stated plans to launch a tokenized securities service in October after an initial trial with more than 50 firms.

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