The US stock market has always had a closing time. For international investors, that closing time often falls somewhere deeply inconvenient, like 2 a.m. in Singapore or during a public holiday in São Paulo. Backpack, the crypto-native exchange and wallet operator, is done with that arrangement.
On July 10, 2026, Backpack officially launched a 24/7 trading market for US equities, starting with three listings: SpaceX (SPCX), Micron Technology (MU), and SanDisk (SNDK). The shares are tokenized, backed 1:1 by actual shares held in US custody, and tradable both through traditional brokerage infrastructure and directly on the Solana blockchain.
How this actually works
Each tokenized equity on the platform corresponds to a real share held in US custody. Holders are eligible for dividends and corporate actions, the same rights any shareholder would have. Buying SPCX on Backpack is not a bet on SpaceX’s price through a derivative. It is ownership of a SpaceX share, just represented as a token on a blockchain.
Settlement happens immediately. The tokens carry on-chain composability, meaning they can interact with other Solana-based applications. Custody and 1:1 redemption are facilitated through standard financial infrastructure, specifically ACATS and DTCC processes. Sunrise, a Solana-native protocol, manages the on-chain listings and liquidity.
