Backpack Launches 24/7 Market for Tokenized U.S. Equities With SpaceX, Micron, and SanDisk

Backpack launched a 24/7 trading market for select U.S. equities on July 10, 2026, starting with SpaceX (SPCX), Micron Technology (MU), and SanDisk (SNDK).

“The launch comes as tokenized stocks become one of the fastest-growing corners of crypto, with exchanges and traditional finance firms racing to expand 24/7 trading”

Cointelegraph

The crypto-native exchange said the shares are tokenized and backed 1:1 by actual shares held in U.S. custody, with settlement happening immediately.

Cointelegraph

GlobeNewswire described the move as the first time international investors can buy and sell real U.S. equities “24-hours a day, seven days a week on Backpack.”

Cointelegraph added that Backpack’s initial offering gives investors direct ownership of the underlying securities rather than synthetic exposure, with trades settling instantly and funded in fiat currency or stablecoins.

Backpack said each tokenized equity corresponds to a real share held in U.S. custody, with holders eligible for dividends and corporate actions.

Crypto Briefing said custody and 1:1 redemption are facilitated through standard financial infrastructure, specifically ACATS and DTCC processes, while Sunrise manages the on-chain listings and liquidity.

Crypto Briefing

Cointelegraph reported that Backpack also offers Solana-based tokenized versions of the securities, which can be transferred between wallets, used in decentralized finance applications, and converted 1:1 into the corresponding shares through Backpack.

GlobeNewswire said users can bridge seamlessly between traditional securities and tokenized representations 1:1 via the Backpack platform, and it described the platform as delivering “instant settlement” and “continuous price discovery.”

Crypto Briefing said the rollout began in early June, with Backpack Securities launching in June 2026 and SPCX going live on June 12 alongside Backpack’s own Nasdaq IPO.

“- International investors can buy and sell real U”

GlobeNewswire

In the time since that initial listing, Crypto Briefing reported SPCX accumulated more than 10,000 on-chain holders and crossed $350 million in trading volume.

GlobeNewswire said Backpack currently serves users from over 150 countries and regions with more than $450 billion in trading volume, and it quoted co-founder and CEO Armani Ferrante saying, “capital doesn’t sleep.”

Cointelegraph framed the launch as part of a broader race for 24/7 stock markets, noting that tokenized stocks have become one of the fastest-growing corners of crypto and citing RWA.xyz data that the tokenized stock market has grown from about $379 million to $1.85 billion over the past year.