[Digital Today reporter Chi-gyu Hwang] Backpack, a cryptocurrency exchange founded by former FTX employees, has launched Backpack Securities, a platform combining traditional stock trading and tokenised securities.

According to a recent report by The Block, Backpack Securities allows users to buy, hold and sell U.S. stocks through regulated brokerage infrastructure. It also offers a function to convert shares into tokens that can move freely on blockchain networks.

Backpack CEO Armani Ferrante (아르마니 페란테) said, "Real stock ownership and blockchain-based access are not competing models but two pillars of a single financial system."

Backpack Securities consists of 2 connected services. One is a U.S.-regulated brokerage and custody platform that provides real stock ownership and guarantees the same rights as traditional brokers, including cash dividends, corporate actions, ACATS and integration with DTCC systems.

The other is a service that partners with Sunrise, a Solana-based tokenisation protocol, to convert held shares into tokenised securities. Tokenised shares can be traded on Solana 24 hours a day, 365 days a year, and are compatible with wallets and decentralised finance (DeFi) protocols. Backpack plans to expand to other blockchains as well.