this is actually pretty big
this is a tokenized security that is **actually redeemable** for the underlying stock
with dividends and rights built in
backpack has its own brokerage similar to robinhood etc
accessing us stocks with just internet connection is wild
Every $SPCX is backed by a real SpaceX share, redeemable 1:1 into your brokerage account through @Backpack Securities
$SPCX will trade 24/7 on @Solana via @sunrisedefi after Fridayβs IPO
βIf you want to build a ship, donβt drum up the men to gather wood, divide the work, and give orders. Instead, teach them to yearn for the vast and endless sea.β
It's been almost 3 months since the BP TGE, and it feels like a lifetime.
It's been over 3 years since we started the exchange, and it feels like a lifetime.
From the beginning, we've taken a different path from just about every new entrant this cycle. It's been a long path. It's been a hard path. But it's the path we needed to take to build a modern financial institution for the future of money.
With every day that passes, we inch a little bit closer.
It's not just about crypto. It's not just about stocks. It's not just about trading. It's not just about perps. It's about doing the hard things in the real world that few are willing to do to, and for which there is no short cut.
It's only when you do those things can you genuinely merge the crypto economy with the traditional economy--not just in one country, but for the entire world. It's easy to say. It's hard to do.
It takes years, decades, to make any progress. Heck, we moved to Japan over three years ago so that we could get a bank account and legally serve the market. But we are happy to build this business not in one cycle, because we will build it over a lifetime.
As we rollout Backpack Securities, we begin a multi-month release cycle of hitting milestones that have been years in the making, and we couldn't be more excited to share them with the world.
Today, Backpack is your brokerage, your exchange, and your wallet. It's the result of a global team pouring their hearts into the product, through the good, through the bad, and never yielding.
Every day, we push forward. Brick by brick, and I hope you love this brick as much as I do.
π§±
Public Beta is live.
Trade real US stocks and ETFs alongside crypto, perps, and yield, all within one account.
Real ownership under New York law. Cash dividends, brokerage transfers, and corporate actions rolling out during Public Beta.
24/5. Instant execution. Traditional market liquidity.
No fees in June: https://t.co/iDxg2wGAwr
Introducing Backpack Securities: The Crypto Stock Broker
Built like a traditional broker, but on-chain!
-Real stocks under NY law (UCC Article 8)
-Cash dividends + correct tax treatment
-24/5 trading β overnight, pre-market, regular, after-hours
-Same legal framework as Robinhood and FidelityΒ
-Transfer in/out to your TradFi broker
-One portfolio: stocks, crypto, stablecoins, derivatives Not a wrapper or CFD. The real thing.
Launching next week.
Will share more on this soon. Itβs been over three years in the making to get to this point, but the holy trinity has been achieved. The only other exchange in the world that has gotten regulated perps, spot, and payments live in the EU is Kraken. The other will be Backpack. Weβre coming Europe.