The cryptocurrency exchange Backpack has announced the integration of the Superstate platform, which will allow users outside the U.S. to trade tokenized shares of American companies registered with the SEC. This is the first such experience for a centralized exchange, as the shares will be represented on the blockchain with unique CUSIP identifiers, which are used on leading platforms like Nasdaq and NYSE.
This is reported by Business • Media
A New Level of Transparency and Flexibility for Investors
With the implementation of Superstate’s Opening Bell solution on the Backpack platform, users from various countries will be able to buy, sell, and use tokenized shares as collateral. These assets are not synthetic or derivatives — they are real securities issued in accordance with U.S. securities law, providing investors with the same rights as traditional stocks.
The platform aims to eliminate the need for intermediaries and provide the ability to directly manage assets through the blockchain, enhancing market transparency and efficiency. Owners of tokenized securities will be able to manage them without involving traditional brokers.
“For traders, this means more assets to buy, sell, and use as collateral — with more flexible margin opportunities. He added that this format also opens up direct access for issuers to millions of crypto-native investors and to a new infrastructure for digital capital markets,” noted Robert Leshner.
Benefits of Tokenization and Future Plans for Backpack
Mikel Ayala, Backpack’s Director of Development in Europe, emphasized that the tokenization of stocks is a key step in the evolution of financial markets. He believes that blockchain technologies allow for the elimination of inefficiencies and lack of transparency that have arisen due to the accumulation of intermediaries and regulatory barriers in the traditional capital markets infrastructure.
Interest in the tokenization of traditional assets is continuously growing: in recent months, companies such as Robinhood, Gemini, Ondo Finance, and Kraken (through Backed Finance) have already presented their own solutions in this area. Their goal is to move financial instruments into the blockchain environment to ensure greater transparency and speed of settlements.
Backpack, founded by Armani Ferrante, already has experience in the Solana ecosystem and owns the European division of FTX. Since 2023, the company has been actively developing a regulated infrastructure, obtaining a virtual asset service provider license in Dubai, and in September opened a derivatives trading platform in the EU under Cyprus regulation in accordance with MiFID II.