Backpack joins race for 24/7 stock markets with tokenized equities

Backpack joins race for 24/7 stock markets with tokenized equities

The launch comes as tokenized stocks become one of the fastest-growing corners of crypto, with exchanges and traditional finance firms racing to expand 24/7 trading.

Tokenized stocks. Source: RWA.xyz

Crypto exchanges have led much of that growth. Kraken, which acquired xStocks developer Backed Finance in late 2025, has expanded the platform across its exchange, while Bybit and Bitget have also integrated xStocks. Coinbase and Binance have likewise rolled out tokenized equity offerings in recent months.

Traditional exchanges have also embraced tokenization. In March, the SEC approved Nasdaq's pilot to trade tokenized stocks alongside conventional securities on the same exchange, while the New York Stock Exchange partnered with Securitize to develop a 24/7 platform for tokenized stocks and ETFs.

The following month, the Depository Trust & Clearing Corporation (DTCC) announced plans to launch a tokenized securities service in October after a pilot involving more than 50 financial and crypto firms.

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