Backpack Exchange tokenized stocks add 4 tech names on Solana
Backpack Exchange listed tokenized Apple and Nvidia on Solana on Oct. 24, bringing its big tech listings to four in three days.
The lineup of Backpack Exchange tokenized stocks on Solana ($SOL) grew again on Saturday. Backpack Exchange ($BP) said tokenized Apple ($AAPL) and Nvidia ($NVDA) are now available, after Amazon ($AMZN) on Oct. 23 and Meta Platforms ($META) on Oct. 22.
The quick take
- Price: $BP $0.984, -1.9% ↓ in 24 hours (CoinGecko, as of 5:40 p.m. ET, Oct 24)
- Trigger: Backpack listed tokenized Apple and Nvidia on Solana on Oct. 24.
- Watch: Liquidity for the Apple token stood near $316,000 on Jupiter; watch whether it grows.
What happened
Backpack posted both listings on its blog on Oct. 24. Each token is issued by Backpack Securities, the company says. Holders can redeem one token for one real share held there.
The tokens trade at any hour. Moving between a token and the share runs through Backpack Exchange, much like a stablecoin deposit or withdrawal. Backpack says the tokens can also be moved to traditional brokerages.
Why it matters
Backpack says the tokens work across Solana apps. It names Jupiter Exchange, Raydium, Kamino Finance and Phantom among them. That puts share-backed tokens inside DeFi tools, not only on one exchange.
Most tokenized stocks only follow a price, according to Backpack. Its pitch is that these tokens can be swapped back for the share itself.
Who’s buying and selling
On-chain trading is still small. Jupiter showed about $316,000 of liquidity for the Apple token and $294,000 for the Nvidia token at 5:45 p.m. ET.
The largest Apple token pool, on Raydium against USDC, saw $89,347 in 24-hour volume. It logged 678 buys and 562 sells, per DEX Screener.
What to watch next
Watch whether liquidity in the new tokens grows on Solana exchanges and lending apps. Backpack has added one or two names a day this week, so more listings may follow.
Bottom line: Backpack Exchange keeps adding big tech names to Solana, but on-chain trading in them is still small.
Sources
- Backpack: Tokenized Apple ($AAPL) Now Available on Solana (Oct. 24, primary)
- Backpack: Tokenized Nvidia ($NVDA) Now Available on Solana (Oct. 24)
- Backpack: Tokenized Amazon ($AMZN) Now Available on Solana (Oct. 23)
- Backpack: Tokenized Meta Platforms ($META) Now Available on Solana (Oct. 22)
- Jupiter price API: Apple and Nvidia token liquidity (5:45 p.m. ET)
- DEX Screener: AAPL/USDC pool on Raydium (5:45 p.m. ET)
- CoinGecko: Backpack ($BP) (5:40 p.m. ET)
Price data: CoinGecko.
Not financial advice.
