Crypto exchange Backpack has started 24-hour trading for tokenised products tied to some U.S. stocks. Cointelegraph reported on Thursday that overseas investors can trade SpaceX, Micron, SanDisk and others without time limits.

Backpack said its initial service provides direct ownership of the underlying securities rather than synthetic exposure. Trades are settled instantly, and users can fund accounts with fiat currency or stablecoins. It currently supports only a limited set of U.S. stocks, and more will be added.

Backpack also offers Solana-based tokenised versions. The tokens can be transferred between wallets and used in DeFi applications, and can be converted 1-for-1 into the shares through Backpack. The service is available in more than 150 countries and regions, and trading liquidity is supplied by traditional exchanges.

The tokenised stock market is growing rapidly within the on-chain real-world asset market. RWA.xyz data showed the market size increased over the past year to about $1.85 billion from about $379 million. Over the past 30 days, distributed value rose 28.6 percent and monthly transfer volume jumped more than 85 percent to $8.76 billion.