Backpack Challenges Wall Street With 24/7 Tokenized U.S. Stock Trading

Backpack has launched a new 24/7 trading platform for tokenized U.S. stocks, marking another step in the race to merge traditional financial markets with blockchain technology. The cryptocurrency exchange says investors in more than 150 markets can now buy, hold, and trade selected U.S. equities around the clock, including weekends and holidays, instead of being restricted by standard Wall Street trading hours.

The rollout reflects growing momentum behind tokenized securities, which are digital representations of real-world financial assets issued on blockchain networks. Supporters argue the model can reduce settlement times, improve market access, and make investing more flexible for global users.

How the platform works

Backpack’s initial lineup includes tokenized versions of SpaceX, Micron Technology, and SanDisk. According to the company, each token is backed by a corresponding security entitlement and can be converted between traditional brokerage holdings and blockchain-based tokens through its regulated securities infrastructure.

Key features include:

• Continuous 24/7 trading instead of traditional market hours.
• Instant blockchain settlement.
• Funding with either fiat currency or stablecoins.
• The ability to transfer tokenized securities across compatible Solana wallets.

Backpack says the structure is designed to combine conventional brokerage services with blockchain-native ownership, allowing investors to move assets between traditional financial systems and decentralized applications.

Tokenization race accelerates

The launch comes as tokenized equities gain broader attention across the financial industry. Regulators in the United States are evaluating frameworks that could allow broader issuance and trading of blockchain-based securities, while major financial institutions continue investing in tokenization initiatives.

Advocates believe tokenized stocks could modernize capital markets by enabling faster settlement, lower operating costs, and global access to U.S. equities. However, industry participants continue to debate key issues, including investor protections, liquidity, regulatory oversight, and whether tokenized shares provide the same rights as conventional stock ownership.

Backpack’s expansion highlights increasing competition among crypto firms seeking to bridge traditional finance and digital assets. If regulatory support continues to develop, 24/7 trading of tokenized securities could become an increasingly important segment of global financial markets, challenging long-standing conventions built around Wall Street’s fixed trading schedule.