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Financial technology firm Superstate has taken a significant step toward modernizing public capital markets with blockchain technology. The company announced that, through a partnership with the global centralized crypto exchange Backpack, it will bring locally tokenized publicly traded stocks to centralized crypto trading for the first time.
Through this partnership, Superstate’s “Opening Bell” platform will be integrated with Backpack, enabling on-chain trading of SEC-registered U.S. stocks. This will allow users outside the U.S. to buy and sell tokenized shares of publicly traded companies directly on the blockchain.
Backpack Expands to SEC-Registered Tokenized Stocks
With this integration, the Backpack exchange is adding tokenized stocks issued in compliance with U.S. securities laws to its platform, carrying the same CUSIP identifiers as their traditional counterparts on Nasdaq and NYSE.
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With this development, Backpack has become the first centralized crypto exchange to list SEC-approved tokenized stocks locally on-chain. The specific stocks to be supported and the launch date are expected to be announced in the coming weeks.
A Fresh Breath for the Tokenization Trend
This partnership is seen as a major step in the rapidly growing field of financial instrument tokenization. In recent months, major firms such as Robinhood, Gemini, Ondo Finance, Kraken, and Backed Finance have also entered this space by launching tokenized versions of stocks and ETFs.
Superstate’s “Opening Bell” platform operates through a registered transfer agent, tokenizing publicly traded company shares and giving investors direct blockchain-based ownership. This system also paves the way for integrating traditional U.S. capital markets with DeFi infrastructure.
From the Solana Ecosystem to a Global Financial Platform
Founded by crypto developer Armani Ferrante, Backpack initially gained recognition through wallet projects in the Solana ecosystem. It later became a centralized exchange by acquiring FTX’s struggling European branch. In 2023, Backpack obtained a virtual asset service provider license in Dubai, and last month launched its Europe-focused derivatives platform under MiFID II regulations based in Cyprus.
With this new partnership, Backpack is becoming a bridge between traditional finance and crypto, positioning itself as a leader in regulated tokenized asset trading. The Superstate-Backpack collaboration could mark a historic turning point for bringing regulation-compliant tokenized stocks into crypto markets. This development enables investors to access more transparent, liquid, and accessible financial instruments, while also increasing the appeal of crypto exchanges for institutional investors.
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