Securities, Markets, and DeFi. From wallet to rails. Powered by @Backpack
Joined November 2024
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“What Circle is to stablecoins, Backpack is to securities.”
@ArmaniFerrante explains Backpack's tokenization vision in 43 seconds.
Backpack-issued tokenized equities are now live on @jtx_trade.
Trade 1:1 redeemable tokenized equities with live pricing and a full equities data experience.
Onchain equity markets are here.
BREAKING: $657M in tokenized stocks traded on Solana on Monday.
More than double any other day since September. @Backpack Securities made up $598M of it.
We are aware of fraudulent airdrop promotions claiming to distribute tokenized stocks issued by Backpack Securities.
These promotions are not associated with Backpack Securities. Scammers may use genuine token addresses to appear legitimate. We encourage users to exercise caution with unsolicited links and wallet connection requests.
For the official list of tokenized securities and their canonical addresses, please visit: backpack.exchange/tokenized-…
Official $SPY token address: SPYBo66VJPFjh1pXMb9Le53kDYWTK1zzYVDeVRWtsbi
Verify before you trade.
Backpack Onchain retweeted
The Backpack Market supports cross-collateral borrowing, so several stocks can back one USDC loan.
- @AllezLabs, the market’s curator, gives each stock its own borrowing limit
- Your loan’s limit is the total across your stocks, so a price rise in any one of them adds to how much you can borrow.
- If the loan reaches its liquidation point, the stock with the lowest liquidation LTV is sold first
This means you can borrow against your @backpackonchain stocks together, in one loan with one borrowing limit
Fastest-growing tokenized stock issuer by holders 🎒
.@Backpack led tokenized stock holder growth over the past 30 days, +224.6K wallets.
@xStocksFi came second with +193.2K, ahead of @binance bStocks, @PreStocks and @RobinhoodApp.
Holders are wallets, not individuals.
Data via @tokenterminal
Backpack Onchain retweeted
Stablecoins were the first hard part. Equities are the second.
@armaniferrante, @Backpack's founder, on why, once equities are on chain, the step to fixed income, private credit and real estate gets small.
Solana is the RWA chain.
Official $ICE token address: CEQnejxG1FPzMS6UiLbcxNiMKrZM3x6GTZucpJoSeByy
Verify before you trade.
Backpack Onchain retweeted
NEW: @Backpack PARTNERS WITH KOREAN BROKER SK SECURITIES
ELIGIBLE USERS CAN TRADE KOREAN STOCKS IN THE BACKPACK APP
DEAL ALSO LAYS GROUNDWORK FOR TOKENIZED SECURITIES AND RWAS
Backpack Onchain retweeted
It’s an honor to partner with SK Securities to bring Korea’s capital markets to Backpack Securities. Tokenization is the most important update to global finance this year. This is it. We’re in the midst of history.
Backpack and SK Securities are partnering to expand global access to Korean equities.
The partnership combines SK Securities’ institutional expertise in Korea’s capital markets with Backpack’s global reach to bring Korean stock trading to eligible investors through the Backpack app.
Building on our existing U.S. securities platform, the partnership also lays the foundation for collaboration in tokenized securities and real-world assets, connecting established capital markets with blockchain-based financial infrastructure.
Another step toward a single globally regulated financial marketplace.
Backpack Onchain retweeted
Backpack and SK Securities are partnering to expand global access to Korean equities.
The partnership combines SK Securities’ institutional expertise in Korea’s capital markets with Backpack’s global reach to bring Korean stock trading to eligible investors through the Backpack app.
Building on our existing U.S. securities platform, the partnership also lays the foundation for collaboration in tokenized securities and real-world assets, connecting established capital markets with blockchain-based financial infrastructure.
Another step toward a single globally regulated financial marketplace.
Backpack Onchain retweeted
Backpack gives users a 1:1 path between an actual brokerage position and a stock token on Solana
Now these tokens can be used as collateral on Kamino to borrow USDC, a great example of the onchain equity stack coming together
Introducing the Backpack Market on Kamino.
Kamino is expanding loans backed by tokenized equity on Solana with @Backpack Securities, bringing 1:1-backed, redeemable tokenized U.S.-listed equities directly into onchain credit markets.
Backpack Onchain retweeted
Borrow lending—the next crucial brick to usher in the next leg of tokenized security growth on @solana by the best in the business @kamino
Introducing the Backpack Market on Kamino.
Kamino is expanding loans backed by tokenized equity on Solana with @Backpack Securities, bringing 1:1-backed, redeemable tokenized U.S.-listed equities directly into onchain credit markets.