Backpack has launched 24/7 trading for tokenized US stocks in over 150 countries, providing eligible investors with direct ownership of select stocks with instant settlement.
Summary
- Backpack has launched 24/7 trading for tokenized US stocks with direct ownership and instant settlement.
- The exchange now offers tokenized shares of companies like SpaceX, Micron, and SanDisk in more than 150 markets.
- Data from RWA.xyz shows that 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 United States can now trade a group of tokenized U.S. stocks 24 hours a day, including stocks tied to SpaceX, Micron and SanDisk.
According to the company, investors receive ownership of the underlying securities rather than synthetic exposure, while transactions are settled instantly using fiat currencies or stablecoins. The exchange added that more shares will be introduced over time.
Created alongside 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 1:1 for the corresponding shares through its platform. The company said liquidity for trading comes from traditional financial markets.
Direct ownership and continuous trade distinguish the model
Available in more than 150 countries and regions, the service is aimed at investors seeking access to US stocks beyond standard Wall Street trading hours. Backpack said its structure differs from products that only reflect stock prices because buyers gain ownership of the underlying securities rather than exposure to derivatives.
Among the first assets listed, Backpack said its SpaceX tokenized shares have become the most traded tokenized version of the private aerospace company since its launch in June. However, the company did not release trading volume figures or compare activity to competing tokenized stock platforms.
Earlier this year, Backpack also introduced a symbolic model related to its planned initial public offering in the United States. According to the company, users who lock their native token for at least a year will be able to exchange those tokens for company shares after the IPO. Backpack added that part of the token supply will remain locked until at least a year after the public listing.
Tokenized stocks continue to attract cryptocurrencies and traditional finance
The growth of tokenized stocks has accelerated alongside growing interest in real-world assets on blockchain networks. According data According to RWA.xyz, the tokenized stock market has expanded from approximately $379 million to $1.85 billion over the past year.
The same data set shows that the value distributed has increased by 28.6% over the last 30 days, while the monthly transfer volume has increased by more than 85% to $8.76 billion.
Crypto exchanges have accounted for much of that expansion. Kraken strengthened its position after acquiring xStocks developer Backed Finance in late 2025 and then integrating the platform into its exchange. Bybit and Bitget have also added support for xStocks, while Coinbase and Binance have introduced their own tokenized stock products in recent months.
Traditional financial institutions have also entered the sector. In March, the U.S. Securities and Exchange Commission approved Nasdaq’s pilot program that allows tokenized stocks to trade alongside conventional securities on the same exchange. Separately, the New York Stock Exchange partnered with Securitize to develop a 24/7 market for tokenized stocks and exchange-traded funds.
The momentum has continued beyond stock traders. Depository Trust & Clearing Corporation announced in April that it plans to launch a tokenized securities service in October following a pilot involving more than 50 financial and crypto firms, adding another sign that blockchain-based equity infrastructure is moving closer to established capital markets.
