Backpack to Launch Platform for Trading Stocks and Tokenized Equities

Crypto exchange Backpack is preparing to launch a securities platform that will allow users to trade traditional equities alongside tokenized stocks, The Block reported on June 2. The move comes as investors focus on the expansion of real-world asset tokenization and on-chain securities markets.

The new platform, called Backpack Securities, will let users trade U.S. stocks through regulated brokerage infrastructure. It will also allow them to convert those holdings into tokenized assets that can be transferred on blockchain networks.

Backpack said it has partnered with Sunrise, a Solana-based tokenization protocol, for the offering.

The company aims to connect traditional financial markets with blockchain-based asset markets. The service is scheduled to roll out in phases during June.

The tokenization market for financial assets such as stocks, bonds and funds has been growing rapidly in the crypto industry. Market participants view regulatory frameworks and broader institutional participation as key factors in the growth of tokenized securities.