introducing the next Backpack token utility, we'll be building out this year. IPOs, on chain, directly on Backpack.
Normally when companies go public, the founders and executives go on a roadshow, sharing their story and garnering interest from Wall Street institutional buyers purchasing shares before they go public. For most, you normally have to wait for the stock exchanges to go live before getting access to these shares through your brokerage.
What we're doing: working with Superstate for Backpack to become a stop on the roadshow, so that our users can get access to these IPOs before trading goes live on national stock exchanges.
The catch: Our ability to do this successfully is purely a function of the Backpack community.
The more active and valuable our users, the more viable Backpack is a venue for capital formation. As a result, we've put together this waitlist to collect interest from our users today on this product. The early users that signup will get early access to the first IPO.
The more people that sign up for this, the more engaged and active our community is here, the better access we will get to companies when they go public.
This will be the first test of the community. This is an enormously valuable opportunity, and we need your help signing up for this so that we can go out and get the best IPOs for everyone here that we can.
The ask: add yourself to the waitlist now.
We have a lot more coming on this front, and this is a perfect example of why we did not build a DEX. This is only something a compliant product can do.
Go big or go home.
One thing I’m going to be paying attention to as SpaceX trades is the DeFi / TradFi arbitrage.
The @Backpack Securities $SPCX is going to be the only onchain asset where anyone can cycle the token in and out of TradFi quickly enough to close the gap between @solana and Nasdaq.
Let’s see what happens.
To give you a concrete sense of what we're doing with @Backpack Securities.
- Trade stocks on Backpack
- Deposit/Withdraw to Solana
- Trade on DeFi in your wallet
- On/off ramp to your brokerage account
Tokenized stocks that are redeemable for the real thing just like a stablecoin.
Demo:
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 Friday’s IPO
$SPCX goes live on @Solana via @SunriseDeFi following SpaceX’s Nasdaq debut.
Issued by Backpack Securities. On/off-ramp SpaceX shares between traditional brokers and Solana.
Liftoff Week is here.
Trade crypto & perps. Earn up to $600 in SpaceX $SPCX shares.
Hold stocks to unlock 20% more.
Live now: https://t.co/w92DfBgMMA
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.
🧱
We're excited to welcome Dr. Michael S. Piwowar to Backpack US’s Board of Directors.
Dr. Piwowar served as SEC Commissioner from 2013 to 2018 and was later designated Acting Chairman of the SEC by President Trump. He was among the first senior U.S. regulators to publicly engage with the regulatory questions posed by digital assets and initial coin offerings.
He currently serves as Executive Director of Georgetown University’s Psaros Center for Financial Markets and Policy, and previously served as Chief Economist for the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
He brings deep expertise across securities regulation, capital markets policy, market structure, and investor protection as Backpack US accelerates its U.S. expansion.
With Mark Wetjen, former CFTC Commissioner & Acting Chairman, leading Backpack US as President, and Dr. Piwowar joining the board, Backpack US is building with experienced leadership across the SEC, CFTC, DTCC, and U.S. capital markets.
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
Path to Liftoff has begun.
Trade crypto & perps. Earn up to $500 in SpaceX $SPCX stock.
The Crypto Stock Broker 🎒
Live now: https://t.co/7aSy9ev7YE