Backpack Securities’ Tokenized Stocks Top $5.3 Billion in Cumulative Onchain Volume

Backpack Securities’ tokenized stocks and exchange-traded funds on Solana generated more than $5.3 billion in cumulative onchain volume from June 12 through Oct. 18, showing the scale of its tokenized-securities offering. The figures are rounded.

The same snapshot listed more than 430,000 token holders and 87 live tokenized securities. It measures cumulative volume across the stated period, rather than a weekly trading total.

Customers can withdraw a share held through Backpack Exchange and receive a token on a one-to-one basis. Depositing the token back burns it, and the corresponding share is credited to the customer’s exchange account. The tokens can trade outside regular U.S. stock-market hours.

Backpack CEO Armani Ferrante described plans in his Sept. 26 remarks for a single application programming interface (API) connecting brokerage accounts with decentralized finance (DeFi). Ferrante gave no launch date in those remarks.