Backpack Expands to SEC-Registered Tokenized Stocks With Superstate Partnership

Core Insights - Backpack is integrating SEC-registered U.S. equities into its trading platform through a partnership with Superstate, allowing non-U.S. users to trade tokenized shares of public companies on-chain [1][2] - This makes Backpack the first centralized crypto exchange to list issuer-backed, SEC-registered equities natively on-chain, with details on supported equities and rollout dates to be announced soon [2] - The tokenization of financial instruments is gaining traction in crypto markets, with various platforms launching tokenized equity offerings recently [3] Company Overview - Backpack was founded by Armani Ferrante and is recognized for its involvement in the Solana ecosystem, as well as acquiring the European arm of the collapsed FTX exchange [5] - The company has expanded into a broader financial platform, launching a centralized exchange in 2023 and a derivatives venue in Cyprus regulated under the MiFID II framework [5] Industry Trends - The tokenization of financial instruments, including equity shares, is becoming increasingly popular, with several platforms like Robinhood and Kraken introducing tokenized versions of publicly traded companies and ETFs [3][4] - Superstate's Opening Bell platform aims to create tokenized versions of publicly traded stocks, facilitating direct ownership and access to decentralized finance (DeFi) tools [4]