US stock markets close at 4 PM Eastern. The rest of the world keeps spinning. Backpack, the crypto exchange built by alumni of the now-infamous FTX, is betting that mismatch is a problem worth solving, and on July 10 it flipped the switch on 24/7 trading for a handful of real US equities aimed at international investors.
The initial roster includes three tokenized stocks: SpaceX (trading under SPCX), Micron (MU), and SanDisk (SNDK). Each token is backed 1:1 by actual shares held in custody, meaning holders retain full legal ownership rights, including dividends and corporate action participation.
From crypto rails to equity rails
Backpack launched its regulated brokerage arm, Backpack Securities, in June 2026. The division operates under New York UCC Article 8, which governs securities entitlements. In English: these aren’t synthetic derivatives or IOUs. They’re real securities with real legal standing, just living on the Solana blockchain instead of sitting in a conventional brokerage’s database.
The tokenization model works like this. Backpack Securities purchases and custodies actual shares of each company. It then issues corresponding tokens on Solana that trade continuously, even when the New York Stock Exchange and Nasdaq are dark. Holders can redeem their tokens back into traditional brokerage accounts whenever they want.
