Backpack, Sunrise to Launch Tokenized SpaceX Stock for Solana Trading From Nasdaq Debut
Summary
- Backpack and Sunrise said they will launch 'SPCX,' a tokenized stock backed by actual SpaceX shares.
- SPCX will trade on the Solana (SOL) blockchain starting on the day of SpaceX's Nasdaq listing, and can be exchanged for actual shares through Backpack's brokerage platform.
- SPCX will be available for 24-hour trading regardless of regular stock-market hours, and can be stored in personal wallets or transferred to Solana-based trading platforms.
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Crypto trading platform Backpack is launching a tokenized security tied to SpaceX shares.
Backpack and tokenization infrastructure firm Sunrise will launch SPCX, a tokenized stock backed by SpaceX shares, CoinDesk reported on June 11. The token will trade on the Solana blockchain starting on the day SpaceX lists on Nasdaq.
SPCX represents ownership of actual SpaceX shares held by Backpack. Investors will be able to exchange the token for the underlying shares through Backpack's brokerage platform and convert those shares back into tokens.
SPCX will be available for trading 24 hours a day, regardless of regular stock-market hours. Users can store the token in personal wallets or transfer it to Solana-based trading platforms.
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