July 10 (Crypto-News.Net) – Backpack said it launched 24/7 access to selected U.S. equities for eligible international investors, adding a crypto-native securities product to a field that already includes tokenized-stock offerings from xStocks, Dinari, Robinhood and Ondo.
According to Backpack’s July 10 release, eligible international investors can buy and sell selected assets that the company described as real U.S. equities, not synthetic derivatives, 24/7/365. Backpack said tokenized versions of selected assets would trade on Solana, with SPCX, Micron and SanDisk among the first assets.
First claim depends on product definition
Backpack described the product as the first 24/7 market for real U.S. equities. Official sources for rival products show why that claim needs attribution rather than narrator voice.
xStocks documentation says xStocks are tokenized representations of U.S. stocks and ETFs that are fully collateralized 1:1 by corresponding underlying assets held with a regulated custodian. The documentation says xStocks can trade around the clock on supported exchanges and DeFi venues, while issuance and redemption operate 24/5. Kraken’s xStocks FAQ describes 24/5 trading and says weekend trading is in development.
Dinari’s dShares page says dShares are tokenized representations of traditional equities backed 1:1 by underlying securities held in custody by a registered U.S. broker-dealer. Dinari’s DeFi page says integrations can offer 24/7 trading of U.S. stocks and ETFs.
Robinhood’s official newsroom said eligible European customers had access to more than 200 U.S. stock and ETF tokens with 24/5 access and dividend support. Robinhood also said future blockchain infrastructure was being built to support 24/7 trading, bridging and self-custody.
Ondo’s official blog says Ondo Stocks gives non-U.S. investors instant 24/7 access to tokenized U.S. stocks, ETFs and other securities. It says the products are fully backed by U.S. stocks and ETFs held at one or more U.S.-registered broker-dealers and cash in transit, while mints and redemptions align with market hours.
Those sources do not prove Backpack’s claim is wrong. They show that the first claim depends on how Backpack defines the market category, including whether it is referring to security-entitlement structure, direct securities access, tokenized on-chain trading or a combination of those features.
Backpack describes security-entitlement structure
Backpack is a crypto exchange and wallet company whose release describes a group that includes Backpack Exchange, Backpack Wallet and Backpack Securities. The same release quoted Armani Ferrante, Backpack’s chief executive, but the existing research package did not independently support founder wording.
Backpack’s FAQ says Backpack Securities positions are real U.S.-listed stocks and ETFs, not CFDs, perpetuals, structured products or synthetic derivatives. Backpack’s legal framework page says users hold security entitlements under New York UCC Article 8.
That language is narrower than direct registered share ownership. Backpack also says several shareholder and transfer features are not yet active during public beta, including voting, cash dividends in user accounts, corporate-action balance updates and external transfers.
Backpack says the product uses brokerage and clearing infrastructure involving RQD Clearing LLC and Atomic Vault Securities LLC. FINRA records reviewed by Crypto-News.Net show active firm records for RQD Clearing and Atomic Vaults Securities. The records list RQD Clearing as CRD 134284, SEC number 8-66826, and Atomic Vaults Securities as CRD 317194, SEC number 8-70868.
FINRA searches did not verify a firm record for Backpack or Backpack Securities under those names. The article therefore does not describe Backpack itself as a FINRA-registered U.S. broker-dealer.
Access is limited by region and beta stage
Backpack’s release addressed eligible international investors. Backpack’s Eligibility and Access page limits availability to eligible users in supported regions and excludes the United States, United Kingdom, United Arab Emirates, Japan and Backpack EU.
Backpack’s FAQ says the securities product is in public beta and web-only for now. It says users request a price and accept a live quote, rather than placing orders through an order book. Backpack says its infrastructure is ACATS- and DTCC-eligible, while its FAQ says external transfers, including ACATS transfers to another broker, are still being worked on.
An older Backpack Trading Hours and Fees page, last updated June 9, answered whether users can trade stocks 24/7 with “Almost” and listed direct Backpack Securities trading from Sunday 8 p.m. ET through Friday 8 p.m. ET, with weekend and U.S. market holiday closures.
Because that page predates the July 10 release, it is an operational caveat rather than the lead fact. The records support a narrower account: Backpack said it launched 24/7 access for selected U.S. equity-linked assets, while rival official sources show the first claim depends on a narrower product definition.
Reporting by Zoran Spirkovski, Editing by Crypto-News.Net
Sources
- Source 1: Backpack July 10 GlobeNewswire release. Announcement language, 24/7/365 claim, group description, Armani Ferrante quote and named assets.
- Source 2: Crypto-News.Net Solana explainer. Internal evergreen context for Solana reference.
- Source 3: xStocks documentation. 1:1 collateralization and around-the-clock trading on supported exchanges and DeFi venues.
- Source 4: Kraken xStocks FAQ. Product access and trading-hours language.
- Source 5: Dinari dShares page. 1:1 backing and broker-dealer custody claims.
- Source 6: Dinari DeFi page. 24/7 U.S. stock and ETF trading access language for integrations.
- Source 7: Robinhood newsroom. EU stock tokens, 24/5 access and future 24/7 blockchain infrastructure claim.
- Source 8: Ondo official blog. 24/7 access to tokenized U.S. stocks and ETFs, backing and market-hours mint and redemption caveat.
- Source 9: Backpack FAQ. Public beta, quote-based trading, legal/product framing and unavailable features.
- Source 10: Backpack Real Ownership and Legal Framework. Security entitlements, UCC Article 8, RQD, Atomic and ACATS/DTCC infrastructure eligibility.
- Source 11: Backpack Eligibility and Access. Supported-region limits and excluded jurisdictions.
- Source 12: Backpack Trading Hours and Fees. Older direct trading-hours documentation and weekend or holiday closures.
