Cryptocurrency exchange Backpack has introduced a 24-hour, real-time U.S. stock trading service, allowing global investors to buy and hold actual shares of major companies rather than synthetic derivatives. The platform, which launched this week, initially supports trading in SpaceX (SPCX), Micron (MU), and SanDisk (SNDK), with plans to expand the roster in the coming months.
How the service works
Backpack’s new offering leverages liquidity from traditional stock exchanges to provide instant settlement and continuous price discovery, even outside standard market hours. Users can deposit funds using both fiat currencies and stablecoins, bridging the gap between traditional finance and the crypto ecosystem. The exchange emphasizes that clients receive real equity ownership, not tokenized or derivative-based exposure, a distinction that may appeal to investors seeking direct market participation.
Why this matters for global investors
The move addresses a longstanding limitation for international traders who often face restricted access to U.S. equities or must rely on complex derivative products. By offering 24-hour trading, Backpack enables users in different time zones to react to market-moving events without waiting for the opening bell on Wall Street. The inclusion of SpaceX, a highly sought-after private company with limited trading avenues, could attract significant interest from retail and institutional investors alike.
Implications for the crypto-finance crossover
Backpack’s initiative reflects a broader trend of cryptocurrency platforms expanding into traditional asset classes. While several exchanges offer stock trading through contracts for difference (CFDs) or tokenized stocks, Backpack’s direct share ownership model sets it apart. This approach may reduce counterparty risk and regulatory ambiguity, though users should still consider the operational and jurisdictional risks involved in cross-border trading.
Conclusion
Backpack’s launch of 24-hour, real-share U.S. stock trading marks a notable step in the convergence of crypto and traditional finance. By combining instant settlement, stablecoin deposits, and access to high-demand equities like SpaceX, the platform offers a novel solution for global investors. However, as with any new financial service, users should evaluate the platform’s regulatory standing, liquidity depth, and fee structure before committing capital.
FAQs
Q1: Can I trade any U.S. stock on Backpack?
Initially, Backpack supports SpaceX (SPCX), Micron (MU), and SanDisk (SNDK). The exchange plans to add more stocks over time.
Q2: Do I actually own the shares I buy?
Yes. Backpack states that users receive real, registered equity shares, not synthetic or derivative products.
Q3: Can I deposit stablecoins to trade stocks?
Yes. The platform accepts deposits in both fiat currencies and stablecoins, making it accessible to crypto-native users.
