Backpack CEO Plans to Bring the Entire Stock Market to Solana

Backpack founder and CEO Armani Ferrante stated that Backpack's goal is to bring the entire stock market to Solana. At its core is an API that connects brokers with DeFi, allowing tokens held by users to correspond to real shares, supporting 1:1 physical redemption, and enabling bidirectional flow between brokerage accounts and the blockchain. Users can purchase SpaceX tokens on Solana and directly transfer them to brokerage accounts such as Backpack, Fidelity, and Robinhood. Ferrante emphasized that the fundamental difference from other tokenized stock solutions on the market is that users actually receive the stocks themselves. Currently, there are approximately 200 tokenized stocks across the entire chain, with plans to expand to 10,000 in the next phase.

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