Backpack launches 24/7 trading of tokenized US stocks in over 150 countries, offering eligible investors direct ownership of selected stocks with instant settlement.
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Backpack launches 24/7 trading of tokenized US stocks with direct ownership and instant settlement. The exchange currently offers tokenized stocks in more than 150 markets, including companies like SpaceX, Micron, and SanDisk. According to data from RWA.xyz, the tokenized stock market has grown to $1.85 billion as crypto and traditional companies expand their offerings.
Backpack announced Thursday that users outside the U.S. can now trade a range of tokenized U.S. stocks around the clock, including stocks related to SpaceX, Micron, and SanDisk.
According to the company, investors receive ownership of the underlying securities in return for synthetic exposure, and trades are settled instantly using either fiat currency or stablecoins. The exchange added that more symbols will be introduced over time.
Built in parallel with the exchange offering, Backpack also offers Solana-based tokenized versions of the same securities. According to Backpack, these blockchain-based assets can be transferred between compatible wallets, used in decentralized finance applications, and redeemed for corresponding stocks on a 1:1 basis through its platform. The company said liquidity for trading is sourced from traditional financial markets.
Direct ownership and continuous trading set the model apart
The service is available in more than 150 countries and territories and is targeted at investors seeking access to U.S. stocks outside of Wall Street’s standard trading hours. Backpack said the structure differs from products that simply reflect stock prices because the buyer receives ownership of the underlying securities rather than derivative exposure.
Among the first listed assets, Backpack said its tokenized SpaceX stock was the most actively traded tokenized version of the private aerospace company since its inception in June. However, the company did not release trading volume figures or compare activity with competing tokenized equity platforms.
Earlier this year, Backpack also introduced a token model related to its planned initial public offering in the US. The company says users who have locked their native tokens for at least a year will be able to exchange those tokens for company stock after the IPO. Backpack added that a portion of the token supply will remain locked for at least a year after listing.
Tokenized stocks continue to attract crypto and traditional finance
The growth of tokenized stocks is accelerating with increasing interest in real-world assets on blockchain networks. The tokenized stock market has grown from approximately $379 million to $1.85 billion in the past year, according to data from RWA.xyz.
The same dataset shows a 28.6% increase in delivery value over the past 30 days, with monthly transfer volume increasing by more than 85% to $8.76 billion.
Virtual currency exchanges account for much of that expansion. Kraken strengthened its position after acquiring xStocks developer Backed Finance in late 2025 and subsequently integrating its platform into the exchange. Bybit and Bitget have also added support for xStocks, and Coinbase and Binance have introduced their own tokenized stock products in recent months.
Traditional financial institutions are also entering this space. In March, the U.S. Securities and Exchange Commission approved Nasdaq’s pilot program that allows tokenized stocks to be traded alongside traditional securities on the same exchange. Separately, the New York Stock Exchange has partnered with Securitize to develop a 24/7 marketplace for tokenized stocks and exchange-traded funds.
The momentum continues beyond exchange operators. The Depository Trust & Clearing Corporation announced in April that it plans to launch a tokenized securities service in October after a pilot involving more than 50 financial and crypto companies, adding another sign that blockchain-based equity infrastructure is moving closer to becoming an established capital market.
