Backpack opens round-the-clock trading for tokenized US stocks
DeFi & Yields ·
The exchange has launched what it describes as the first 24/7 brokerage for real US equities, giving international investors access to names such as SpaceX, Micron, and SanDisk outside normal market hours.
The launch centers on tokenized versions of US equities issued on Solana, according to wublockchain.xyz, which reported that the offering targets international investors seeking exposure to shares that typically trade only during US market hours. By representing the equities as tokens, Backpack is positioning the product to trade continuously rather than being bound to the standard opening and closing bell of US exchanges.
Backpack has said future updates will expand the product beyond simple spot access, adding collateral functionality, borrow-lending, and portfolio margining. Those additions would let holders use the tokenized equities as collateral for loans or margin positions, mirroring features already common in crypto derivatives trading, where assets are pledged to open leveraged positions or borrow against holdings.
The move sits within a broader push across crypto platforms to fold traditional portfolio-management mechanics into digital-asset infrastructure. Elsewhere in that trend, Hyperliquid has expanded its portfolio margin beta with higher limits for sub-$25M accounts, and Jito has unveiled a trading app called JTX meant to unify onchain execution, charts, and portfolio tools for professional Solana traders. Ondo Finance has separately hired a former Invesco ETF executive to lead onchain portfolio products as it pushes further into tokenized investment strategies, part of a wider institutional shift toward representing traditional financial instruments on-chain.
What remains unclear is the timeline for Backpack's planned collateral, lending, and margining features, none of which have launched alongside the initial equities product. Also unresolved is how the tokenized shares will be regulated or custodied relative to the underlying stock, and whether liquidity during off-hours trading will match volumes seen when US markets are open. How international investor demand responds to continuous access, and whether other exchanges follow with comparable tokenized-equity offerings, are the next developments to watch.