Crypto Brokerage CEO: “We’re Going Live Today With 24/7 Trading of Real U.S.
Equities” Starting With Micron, SanDisk and SpaceX Quick Read – Micron (MU) and SanDisk (SNDK) anchor Backpack’s launch with 346% and 251% YoY revenue growth, while SNDK’s datacenter segment surged 645%. – Backpack gives international investors real U.S. stock ownership with 24/7 access, unlike synthetic derivatives most overseas platforms offer. – Backpack CEO Armani Ferrante appeared on CNBC on Friday morning to announce that the crypto-native brokerage has launched 24/7 trading of real U.S. equities for international investors through genuine security entitlements rather than synthetic derivatives
Initial launch names include Micron Technology (NASDAQ:MU), SanDisk (NASDAQ:SNDK), and SpaceX (NASDAQ:SPCX). “We’re super excited to be going live with 24/7 trading of real U.S. equities through the brokerage for the first time. Going live today,” Backpack’s CEO Ferrante said on the segment. He framed the launch as an infrastructure shift enabled by tokenization, with Backpack operating as a globally regulated financial institution built on blockchain technology.
International Investors Can Now Trade U.S. Equities Around the Clock Many overseas platforms already offer “U.S. stock” exposure, but usually through contracts for difference or synthetic derivatives that track the price without conferring ownership. “What we’re doing is really for the first time, opening up 24/7 trading for a genuine bona fide security entitlement,” he said. “Markets will close on Friday in the US. And over the weekend, Saturday and Sunday, people through the Backpack brokerage will continue to trade.