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Cryptocurrency exchange Backpack, founded by former FTX employees, launches Backpack Securities, attempting to combine traditional stock trading with tokenized stocks. The platform consists of two parts: one is a US-regulated broker and custody service that allows users to genuinely hold US stocks and enjoy traditional broker rights such as cash dividends and corporate actions; the other is a partnership with Solana's tokenization protocol Sunrise to convert users' held stocks into on-chain tradable tokenized securities. Backpack states that the related services are expected to be launched gradually starting in June, with tokenized stocks initially supporting wallets, DeFi protocols, and 24/7 trading on Solana, with potential future expansion to more blockchains. (The Block)