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The infrastructure for tokenized equities.

Backpack Securities issues tokenized U.S. stocks and ETFs, each redeemable 1:1 for the underlying share. Listed companies can bring their shares onchain, and platforms can offer them to their users through a single integration.

Contact our teamDeveloper documentation (opens in a new tab)

Why Backpack Securities

Not just a token. Redeemable 1:1.

Tokenized stocks are not all structured alike. The three main models differ in what a token redeems for, where the position can move, and how its liquidity connects to the stock.

ModelShare redemptionBrokerage portabilityLiquidity connected to the stock
Backpack SecuritiesSPCXYes, 1:1Tokens redeem for the underlying shares, held on Backpack Exchange, in seconds, at zero cost.Built inShares can be transferred to and from other brokerages via DTC.Direct path1:1 conversion supports arbitrage, inventory management, and professional market making.
Cash-settled modelsNoTokens redeem for cash or stablecoins.NoneThere is no stock position to move through brokerage rails.No direct pathLiquidity is confined to the token.
Tracker / certificate modelsLimitedShare conversion is restricted or program-dependent.RestrictedPortability depends on the issuer, the broker, and the conversion program.Restricted pathConnectivity depends on the available conversion infrastructure.

Product structures and conversion terms vary by issuer, eligibility, and jurisdiction.

For listed companies

Bring your shares onchain.

Onchain trading gives listed companies a new market for their shares, open around the clock and connected 1:1 to the underlying stock.

Contact our team

Why list with Backpack Securities

Your shares join an active market from the first day of trading.

  • 430.000+

    token holders across Backpack-issued tokenized securities

  • 5,3 Mrd.+ $

    in onchain trading volume since the June launch

  • 90

    tokenized securities live

  • SPCXSpaceX Launched 12. Juni

    91,7 %

    of all tokenized SpaceX trading volume in IPO week, and 87,5 % of the liquidity.

  • PUSAPowerus Launched 2. Okt.

    1,5×

    its U.S. market volume, traded onchain on listing day.

  • RACEFerrari Launched 6. Okt.

    30 Mio.+ $

    traded onchain between its launch at the U.S. close and the next market open.

Data from 12. Juni to 18. Okt. 2026.

View the Blockworks dashboard (opens in a new tab)

What onchain trading offers a listed company.

  1. Expand the market for your shares

    Reach new investors through onchain distribution channels and markets, supporting broader participation and capital formation.

  2. Widen investor access

    Make your shares available across wallets, exchanges, trading apps, and onchain venues.

  3. Preserve market connectivity

    Onchain liquidity and price discovery remain tied to the underlying shares through 1:1 convertibility and brokerage infrastructure.

  4. Create new financial utility

    Enable your shares to serve as collateral and to be used in lending markets, liquidity pools, and other financial applications.

  5. Engage the onchain ecosystem

    Coordinate launches, earnings, and company milestones with wallets, exchanges, protocols, and onchain communities.

For platforms & protocols

Bring U.S. equities to your users.

Tokenized equities can be integrated across a range of platforms and business models.

  • Exchanges

    Launch equity markets

    List tokenized stocks alongside crypto and derivatives, backed by inventory that moves between onchain venues and the brokerage market.

  • Wallets & trading apps

    Offer equities in-app

    Let users hold, transfer, and trade tokenized stocks directly in their wallet or trading app.

  • DEXs & aggregators

    Aggregate equity liquidity

    Build markets and route orders across proprietary AMMs, LP-based AMMs, and other onchain venues.

  • Lending protocols

    Accept equities as collateral

    Create lending and borrowing markets for each listed security.

  • Market makers

    Provide liquidity across markets

    Quote and rebalance inventory across traditional and onchain venues, with 1:1 conversion between the two.

  • Fintechs & neobanks

    Expand your investment offering

    Offer equities alongside cash and crypto in investing and wealth products.

Integration

One integration. Everything we bring onchain.

Every use case above runs on the same securities infrastructure. A single integration covers every listing today, and everything that follows as we bring the full brokerage onchain.

What you integrate

  1. Verified token addresses

    Canonical addresses and asset metadata for every Backpack-issued tokenized security.

    SPCXSPCXSPCXxcqXj6e5dJDVNovHN8744zkbhM2bYudU45BimGb
    SpaceX

  2. Market data

    Pricing, market status, and reference data.

    Price
    Market status
    Asset info

  3. Minting and redemption

    Each token converts 1:1 to the corresponding share held on Backpack Exchange.

    ShareToken
    1:1

What it enables

  • Broader asset coverage

    Expand your investable universe as new assets come onchain, without building securities infrastructure for each one.

  • Additional trading activity

    Add equity markets alongside your crypto and derivatives products.

  • New revenue opportunities

    Trading, liquidity provision, lending, and derivatives can each become a new product line.

  • Greater capital efficiency

    Existing balances can participate in more markets without moving users to a separate investing product.

  • Recurring engagement

    Earnings, corporate announcements, and macro events drive market activity throughout the year.

Documentation, API endpoints, and the token registry

Developer documentation (opens in a new tab)

FAQ

Common questions.

How integration and issuance work with Backpack Securities.

Who is the issuer?
Backpack Securities. Each token represents a claim on a special purpose vehicle (SPV) that holds the underlying security, and is redeemable 1:1 for the share through Backpack Exchange.
Do partners need their own brokerage or custody arrangements?
No. The underlying shares are held through regulated brokerage and custody infrastructure, so partners integrate the tokens without setting up their own.
Which blockchain are the tokens issued on?
Solana. Each security has a single canonical token address, published with its market on the asset page.
How do new listings become available?
Through the existing integration. Each new Backpack-issued tokenized security is published with its verified token address, metadata, and market data, so partners can offer it without further integration work.
How are dividends, splits, and other corporate actions handled?
Cash dividends are reinvested automatically as additional tokens. Splits and other corporate actions are reflected by adjusting token balances.
How can a listed company bring its shares onchain?
Contact our team to begin the process. Issuer programs, distribution, and market structure are subject to eligibility, legal, and operational review.

Build with Backpack Securities.

Tell us about your company and what you want to build. The team will get back to you.

Developer documentation (opens in a new tab)

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Legal (opens in a new tab)

Tokenized securities involve risk and are subject to eligibility and jurisdictional restrictions. Data shown is historical and is not indicative of future results.