Crypto exchange Backpack is set to become the first centralized platform offering blockchain-based trading of U.S. stocks registered with the SEC. The move will be facilitated through a partnership with Superstate, founded by Compound’s Robert Leshner.
The integration incorporates Superstate’s Opening Bell platform, allowing international users to trade tokenized versions of U.S. public equities. These digital shares carry CUSIP identifiers and grant holders the same rights as their traditional counterparts. Unlike synthetic assets or derivatives, these tokenized stocks represent actual ownership recorded on the blockchain.
“For traders, this means a wider range of assets to buy, sell, or use as collateral, with enhanced margin flexibility,” Leshner said. He also emphasized that issuers gain direct access to millions of crypto-native investors through this blockchain infrastructure.
Mikel Ayala, Backpack’s Head of European Expansion, described tokenization as the next step in capital market evolution:
“Traditional markets are inefficient and opaque due to decades of intermediaries and regulation. Blockchain eliminates these risks by providing direct, transparent, and interconnected ownership. Real blockchain stocks surpass traditional market trading.”
The project aligns with growing global interest in tokenizing traditional assets, including stocks, bonds, and funds. Recent moves by Robinhood, Gemini, Ondo Finance, and Kraken’s Backed Finance division reflect this trend, aiming to merge transparency and instant settlement via blockchain.
Founded by Armani Ferrante, Backpack has expanded into Solana’s ecosystem and acquired FTX’s European unit. Since 2023, the company has focused on regulated infrastructure, obtaining a Virtual Asset Service Provider license in Dubai and launching a derivative trading platform for EU clients under MiFID II supervision.
This development positions Backpack at the forefront of blockchain-based financial markets, bridging traditional equities and digital asset infrastructure for international investors.
