Cryptocurrency exchange Backpack has introduced a 24-hour real-time US stock trading service, allowing global investors to buy and hold physical stocks of leading companies rather than synthetic derivatives. The platform, which launched this week, initially supports trading SpaceX (SPCX), Micron (MU), and SanDisk (SNDK), and plans to expand its roster in the coming months.
How the service works
Backpack’s new service leverages the liquidity of traditional stock exchanges to provide instant settlement and continuous price discovery outside of standard market hours. Users can deposit funds using both fiat currencies and stablecoins, bridging the gap between traditional finance and the cryptocurrency ecosystem. The exchange emphasizes that customers receive ownership of actual shares rather than tokenized or derivative-based exposure, which could be attractive to investors looking for direct market participation.
Why this matters to global investors
The move addresses long-standing limitations for international traders, who often have limited access to U.S. stocks or have to rely on complex derivative products. By offering 24-hour trading, Backpack allows users in different time zones to react to market-moving events without waiting for Wall Street’s opening bell. The addition of SpaceX, a highly popular private company with limited trading options, could generate significant interest from both retail and institutional investors.
The impact of the crossover between cryptocurrencies and finance
Backpack’s efforts reflect a broader trend of crypto platforms expanding into traditional asset classes. While some exchanges offer stock trading through contracts for difference (CFDs) or tokenized shares, Backpack’s direct stock ownership model sets it apart. While this approach may reduce counterparty risk and regulatory ambiguity, users still need to consider the operational and jurisdictional risks associated with cross-border transactions.
conclusion
Backpack’s launch of 24-hour real equity US stock trading marks a notable step in the fusion of cryptocurrencies and traditional finance. By combining instant payments, stablecoin deposits, and access to high-demand stocks like SpaceX, the platform offers a novel solution for global investors. However, as with any new financial service, users should evaluate a platform’s regulatory status, liquidity depth, and fee structure before committing capital.
FAQ
Q1: Can I trade US stocks with my backpack?
Initially, Backpack supports SpaceX (SPCX), Micron (MU), and SanDisk (SNDK). The exchange plans to add more stocks in the future.
Q2: Do I actually own the stocks I purchased?
yes. Backpack states that users receive genuine registered stocks, not synthetic or derivative products.
Q3: Can I deposit stablecoins to trade stocks?
yes. The platform accepts deposits in both fiat and stablecoins, making it accessible to crypto-native users.
