Ferrari stock token launches on Solana

Ferrari’s stock token RACE has launched through Sunrise, a Solana-based asset gateway, according to Crypto Briefing. Issued by Backpack Securities, RACE is backed one-to-one by actual Ferrari shares held by a regulated custodian, and holders can redeem the token for rights to the underlying stock. The token can trade around the clock through Solana wallets and DEXs including Phantom, Jupiter, and Raydium.