Crypto exchange Backpack has introduced 24/7 trading of select tokenized US equities, marking a significant step in the global push for continuous stock markets. This move highlights growing interest
Backpack, a crypto exchange, recently launched 24/7 trading for certain tokenized US equities, including SpaceX, Micron, and SanDisk. This initiative aims to provide international investors with around-the-clock access to these securities through direct ownership rather than synthetic exposure.
The initial offering allows trades to settle instantly using fiat currency or stablecoins. Backpack also offers Solana-based tokenized versions of the same equities, enabling seamless transfers between wallets for use in decentralized finance applications and easy conversion back into shares.
This service is available to investors across more than 150 countries and regions, backed by liquidity from traditional exchanges. Notably, Backpack’s tokenized SpaceX shares have seen significant trading activity since their launch in June, though specific volumes were not disclosed.
The move comes as part of a broader trend towards tokenization within the crypto industry. According to RWA.xyz data, the tokenized stock market has grown significantly over the past year, with distributed value surging by 28.6% and monthly transfer volume increasing by over 85%. Traditional finance firms are also embracing this shift, as seen in recent approvals for trading tokenized stocks on major exchanges.
Backpack's launch underscores the growing importance of tokenization within real-world asset markets (RWAs). As more crypto and traditional financial players enter this space, it is likely to further accelerate the adoption and integration of these assets into mainstream finance.
Traders should monitor Backpack’s expansion plans for additional equities and its partnerships with other exchanges. The broader implications include increased accessibility and liquidity in tokenized markets, potentially leading to new trading strategies and market structures.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.