Backpack Securities' $SPCX trading volume exceeds 35 million USD, leading in trading volume and liquidity

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Deep Tide TechFlow news: On June 13, within the first 24 hours of SpaceX’s listing on Nasdaq, the $SPCX token issued by Backpack Securities saw trading volume exceed $35 million. It led the trading volume among tokenized stock trades on the Solana platform, surpassing the next $SPCX competitor by more than 5 times. Liquidity ranked second among all tokenized stocks.

Backpack’s CEO, Armani Ferrante, said that liquidity is concentrated in Backpack’s tokenized stocks because they are the only tokenized stocks that enable circular trading between Solana and Nasdaq, can be bought and sold via brokerage accounts, and allow redemption of the underlying securities.

It is reported that Backpack Securities was launched by Backpack, with the goal of integrating traditional stock trading with tokenized stock trading, promoting the coexistence of real stocks across brokerage and on-chain environments, and supporting 7×24 real U.S. stock trading. The $SPCX token is linked to actual SpaceX shares. Users can deposit and withdraw on-chain stocks to and from Backpack Securities and can transfer them out to U.S. brokerages such as IBKR.

SPCX7.45%
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