Backpack Has Announced Plans to Tokenize 10,000 Stocks
The firm intends to expand its platform to offer thousands of additional tokenized U.S.-listed company shares.
Updated on Sept. 26, 2026 in Investing
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Backpack is scaling its securities platform, aiming to grow from its current 200 tokenized stock offerings to a total of 10,000 symbols on the Solana blockchain. This expansion follows recent regulatory developments involving the trading of U.S. equities in a tokenized format.
Why it matters
The firm aims to integrate traditional brokerage accounts with decentralized finance, potentially allowing investors to bridge their holdings between systems. This initiative relies on a five-year conditional relief framework granted by regulators to enable the trading of tokenized National Market System stocks.
Backpack supports 200 tokenized stock symbols on the Solana network, a figure it plans to grow to 10,000 total offerings. The expansion is supported by an SEC-granted conditional trading framework that lasts for a 5-year duration.
The players
Armani Ferrante
The CEO of Backpack who is leading the firm's push to tokenize U.S. stock offerings.
Backpack
A financial platform that allows users to hold and move tokenized versions of U.S.-listed stocks on the Solana blockchain.
Kyle Samani
A new board member for the U.S. arm of Backpack who joined the company in September.
Securities and Exchange Commission
The federal regulatory agency that provided conditional relief for the trading of tokenized National Market System stocks.
The details
Customers move shares between brokerage accounts and decentralized applications using an API that facilitates the transition. When a token is deposited through the Backpack Exchange, the system converts it into a traditional security entitlement. This mechanism allows for the integration of digital assets with conventional U.S.-listed company stocks.
Timeline
June: Backpack introduced its securities platform and issued its first tokenized SpaceX product.
July: The platform added tokenized versions of various U.S.-listed companies.
September 17: The SEC granted conditional relief for trading tokenized National Market System stocks.
September 23: Backpack announced the launch of the CRWV token.
September 26: CEO Armani Ferrante announced plans to expand to 10,000 tokenized symbols.
Money Landscape
This development follows the SEC's 5-year conditional relief framework for tokenized NMS stock trading, which dictates how firms can operate these services. The initiative represents a move toward merging traditional equity markets with decentralized financial infrastructure.
Investors considering tokenized assets should monitor how these platforms integrate with their existing brokerage accounts, as moving shares involves specific API-driven processes. Always consult with a qualified financial or tax professional before transferring securities into a decentralized finance environment.
The takeaway
The move to offer 10,000 tokenized stocks reflects an industry push to blur the lines between traditional equity ownership and blockchain-based finance. Investors should pay close attention to the regulatory status of any platform they use to ensure it remains compliant with federal securities standards.
Further reading
For more information on digital asset markets, see our guide to Investing.
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