SpaceX · CoinDesk
Advocates argue that tokenized stocks could eventually expand access to U.S. capital markets and enable continuous trading
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"The future of tokenized equities is not putting price exposure onchain," Backpack CEO Armani Ferrante said shared with CoinDesk.
Key facts
- The future of tokenized equities is not putting price exposure onchain," Backpack CEO Armani Ferrante said shared with CoinDesk
- SPCX will trade on Solana around the clock, including outside traditional market hours
- The token, issued by Backpack, represents ownership of underlying SpaceX shares and can be redeemed for those shares through Backpack's brokerage platform
- The launch attempts to bring newly listed U.S. equities onchain from day one
Summary
SpaceX shares will begin trading on Solana the same day the company lists on Nasdaq through a tokenized stock called SPCX, issued by Backpack Securities. SPCX can be redeemed for underlying SpaceX shares and transferred between traditional brokerages and Solana, highlighting a broader push by Sunrise and Backpack to bring U.S. stocks onchain. SpaceX (SPCX) shares will begin trading on Solana the same day the company is expected to list on Nasdaq, according to Sunrise, a tokenization infrastructure provider, and Backpack Securities, a regulated brokerage and crypto trading platform, which are launching a tokenized version of the stock called SPCX. The token, issued by Backpack, represents ownership of underlying SpaceX shares and can be redeemed for those shares through Backpack's brokerage platform. The launch attempts to bring newly listed U.S. equities onchain from day one.