Backpack to launch securities platform for traditional and tokenized stocks

Cryptocurrency exchange Backpack is launching Backpack Securities, a platform that combines traditional and tokenized stock trading. According to The Block, users will be able to buy and sell actual U.S. stocks through a regulated securities brokerage infrastructure and convert these holdings into tokenized versions that can be moved freely on a blockchain network. To facilitate this, Backpack has partnered with Sunrise, a Solana-based tokenization protocol. The service is scheduled for a sequential rollout in June.