TechFlow News, June 4: According to The Block, Backpack—a cryptocurrency exchange founded by former FTX employees—has launched Backpack Securities, a platform integrating traditional and tokenized stock trading. The platform comprises two interconnected components: First, a U.S.-regulated brokerage and custody platform that grants investors actual ownership of equities, including rights to cash dividends, corporate actions, and integration with systems such as ACATS and DTCC. Second, in collaboration with Sunrise—a tokenization protocol built on Solana—the platform enables users to convert their equity holdings into tokenized securities. Initially, these tokenized securities will be tradable 24/7 on Solana and will be compatible with wallets and DeFi protocols; expansion to additional blockchains is planned for the future. Related brokerage services are expected to roll out gradually starting in June 2026.
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