# Backpack CEO Says Five-Person Team Could Build Next Robinhood

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/50251
Published: 2026-11-06T17:48:38.000Z
Updated: 2026-11-06T17:48:38.000Z
Section: Technology

> Armani Ferrante said open developer APIs could lower costs for financial products recreated with smart contracts.

Backpack CEO Armani Ferrante said opening Wall Street’s financial infrastructure to developers through APIs could let a five-person startup build the next Robinhood, a feat he described as nearly impossible under traditional finance.

Ferrante said smart contracts could recreate traditional financial products with lower operating costs and fees. He cited an on-chain product tracking the S&P 500 as one example, saying its fees could approach zero.

Ferrante framed access to financial infrastructure as a way for small teams to experiment with financial products. He said broader access could lead to many such experiments.