Superstate and Backpack Brings Real Tokenized Stocks Onchain

Superstate, a company that builds tokenization systems, has teamed up with crypto exchange Backpack to make real public company shares available on crypto platforms. Unlike other tokenized stocks, this partnership lets investors own actual shares on the blockchain, giving them full shareholder rights and the chance to receive dividends. 

Superstate and Backpack’s Partnership Redefines Tokenized Stocks

Until now, multi-chain-based tokenized stocks like Xstocks offered by Kraken have been digital representations of traditional equities. These tokenized assets mirror the performance of real shares but do not confer ownership, voting rights, or direct registration on a blockchain. 

Superstate and Backpack’s partnership aims to change this. The two companies are offering stocks that exist natively onchain, meaning the digital token is the equity itself. Superstate’s Opening Bell platform will handle the issuing, transferring, and settling of shares entirely on the blockchain.

Investors will also be able to gain access to the full rights associated with ownership, including voting privileges and dividends. This initiative is aimed at bridging the gap between conventional markets and crypto trading.

Superstate’s Opening Bell Built to Make Real Stocks Crypto-Native

Superstate launched Opening Bell in May with the focus of bringing major U.S. equities such as Apple (AAPL) and Tesla (TSLA) onto Solana’s blockchain. 

In a recent statement, Robert Leshner, CEO of Superstate, explained that with Opening Bell, stocks listed on Nasdaq or NYSE can now be bought, sold, and utilized on crypto-native platforms such as Backpack. 

This move lets traders buy and sell more types of assets and use margin trading, while companies can connect directly with millions of crypto-savvy investors. At the same time, other firms like Galaxy Digital, SharpLink, and Forward Industries are looking into tokenizing their own shares. 

In particular, Forward, a Solana-focused company, is already working with Drift, Kamino, and Jupiter Lend to offer more trading and lending options for its shares on the blockchain.

Backpack Expands in Europe and Offers Easy Trading of Tokenized Stocks

Backpack, started by former FTX and Alameda Research employees, raised $120 million in its Series A funding in 2024. In July, Backpack launched a new fee-free platform to help creditors of the now-defunct FTX sell their debt claims. This came after it bought FTX EU to grow its presence in Europe. 

The platform wants to make trading easy by offering real tokenized stocks along with cryptocurrencies and stablecoins. 

In a statement, Backpack CEO Armani Ferrante emphasized the vision behind the partnership. He added that eligible non-U.S. users will now be able to cross-margin these equities, combining the flexibility of crypto trading with the legitimacy of regulated public shares.

Backpack and Superstate plan to reveal the first supported shares and the rollout schedule in the coming weeks. At the same time, they are also preparing for broader decentralized finance (DeFi) integration through the Backpack wallet.