#backpack securities

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Solana Tokenized Stock Volume Crosses $86M as Overnight Trading Expand

Solana news today: Backpack's SPCX tokenized stock crosses $86M in on-chain volume via Sunrise DeFi, trading even outside traditional US market hours

➤ Solana-based tokenized stock, SPCX, by Backpack Securities, achieved over $86 million in on-chain volume on its first day, demonstrating significant demand for 24/7 trading. ➤ The SPCX token is redeemable 1:1 for actual company shares and transferable to traditional brokerages, bridging DeFi and traditional markets. ➤ This development highlights Solana's growing role in real-world asset tokenization, with potential to encourage further adoption of on-chain securities.

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SpaceX’s IPO exposes the first crack in tokenized stocks - fragmented ownership and allocation

SpaceX is exposing the first big crack in tokenized stocks: everyone can trade the name, but not everyone owns the same thing.

➤ SpaceX's IPO highlighted the fragmentation in tokenized stock offerings, with various products providing different levels of ownership and rights. ➤ Demand for tokenized exposure, particularly through 'xStocks', outstripped supply, leading to allocation issues and exposing gaps in redemption, custody, and settlement. ➤ The article emphasizes the need for investors to understand the distinct risk profiles of different tokenized equity instruments before subscribing.

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Tokenized SpaceX Stocks Top Solana DEX Trading After Record IPO

Tokenized SpaceX stocks lead Solana DEX trading after the record IPO, with SPCX, SPCXx and SPACEX from three issuers live on the network.

➤ Tokenized SpaceX stocks are leading trading on Solana Decentralized Exchanges (DEXs) following the company's record IPO. ➤ Multiple issuers, including Backpack Securities, xStocks, and Pre-Stocks, offer tokenized versions of SpaceX shares, driving significant trading volume. ➤ The surge in tokenized stock trading highlights growing interest in integrating traditional equities with blockchain technology, with SpaceX's IPO setting new valuation records.

[rwatimes]

Tokenized SpaceX Shares Hit $37M Volume on Solana in First Day

Tokenized SpaceX equity contracts launch on Solana via Backpack Securities, accumulating over $37 million within 24 hours.

➤ Tokenized SpaceX shares (SPCX) launched on Solana via Backpack Securities, achieving over $37 million in volume within its first day. ➤ This offering provides global investors with 24/7 access to SpaceX stock, allowing trading and movement between blockchain wallets and traditional brokerage accounts. ➤ The strong debut signifies growing demand for tokenized equities and highlights the increasing convergence of traditional finance and crypto infrastructure.

[rwatimes]

SpaceX goes on-chain as SPCX launches on Solana

Backpack Securities and Sunrise have introduced SPCX, a token tied to underlying SpaceX shares and issued on Solana. The launch creates a blockchain-based version of SpaceX exposure

➤ SpaceX shares are now accessible on the Solana blockchain through the SPCX token, issued by Backpack Securities and Sunrise. ➤ The SPCX token allows eligible users to trade exposure to SpaceX shares on-chain and convert them into actual shares via regulated brokers. ➤ This launch signifies the expansion of tokenized securities into private company equity and highlights the integration of traditional finance with blockchain infrastructure.

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Backpack’s $BP Token Surges 89% as Exchange Prepares to Bring Real U.S. Stocks Onchain

Backpack's native exchange token $BP surged 89.2% in a single day after the platform announced Backpack Securities,

➤ Backpack has launched Backpack Securities, a regulated platform that brings real U.S. stocks and ETFs onchain, enabling their use in DeFi applications. ➤ This integration allows users to hold traditional stock positions alongside crypto assets within the same account logic on the Solana blockchain. ➤ The announcement led to an 89% surge in Backpack's native token, $BP, highlighting market excitement for this novel approach to tokenized real-world assets.

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Backpack launches a platform that combines traditional and tokenized actions.

➤ Backpack has launched Backpack Securities, a platform merging traditional US stock trading with tokenized assets on the Solana blockchain. ➤ The platform offers regulated brokerage services for US stocks, allowing conversion into tokenized versions for use in the blockchain ecosystem. ➤ This initiative aims to bridge traditional finance and decentralized technologies, enabling seamless capital movement between asset types.

[rwatimes]

Backpack launches securities platform blending traditional and tokenized stock trading

Backpack Securities combines a U.S.-regulated brokerage for traditional equities ownership with a tokenization platform.

➤ Backpack Securities has launched a platform that merges traditional U.S. stock brokerage with tokenized versions of those stocks, enabling on-chain transferability. ➤ The platform allows users to own real stocks with full rights, including dividends and corporate actions, while also converting them into tokens compatible with blockchain networks like Solana. ➤ This initiative, in partnership with Sunrise protocol, aims to provide greater market flexibility, wider trading hours, and integration with DeFi, with services rolling out starting in June.