The neobrokerage put investing in everyone's pocket. As markets move onchain and trade around the clock, Backpack is emerging as the neobrokerage built for that reality: real U.S. stocks, spot crypto, perpetual futures, tokenized equities onchain, and yield in a unified portfolio.
The Neobrokerage Opened the Door
The first wave of neobrokerages replaced branch offices, paperwork, minimum deposits, and per-trade commissions with a simple app. They treated everyday people as investors capable of making their own decisions. Onboarding shrank from weeks to minutes, fractional shares made expensive stocks accessible, and within a few years the rest of the industry had copied the model.
But that first wave was built for one version of the market: stocks, traded during exchange hours, in a single country, inside a walled-off app. The market kept moving. Crypto became a core asset class. Real-world assets are being tokenized at scale; in June 2026 alone, tokenized stocks did about $10 billion in volume on Solana, which now hosts roughly 95% of global on-chain equity trading. Yet on most neobrokerages you still can't move a stock into your own wallet, trade it at 2am on a Sunday, or earn on cash between trades. As Backpack co-founder and CEO Armani Ferrante frames it, market infrastructure is converging on a simple idea: "capital doesn't sleep." The market that still keeps banker's hours is the gap the next generation fills.
One Platform, Every Market
Backpack extends the neobrokerage model into onchain markets. Instead of a stocks-only app with crypto bolted on, eligible users get a single account spanning:
- Real U.S. stocks through Backpack Securities, a regulated broker-dealer offering direct ownership of U.S. equities.
- Spot crypto trading across major digital assets, on an exchange that has processed over $450 billion in volume to date.
- Perpetual futures to go long or short with leverage, hedge positions, and act when the market moves.
- Tokenized stocks on Solana: hold eligible U.S. equities in your own wallet, transfer them peer-to-peer, and redeem them 1:1 for the underlying real share.
- Lending and yield that put idle balances to work.
- Trading bots and automated strategies for rules-based execution.
- Backpack Wallet integration to hold, transfer, and use eligible tokens onchain without leaving Backpack.
The point isn't the length of the list. It's that these markets finally sit in one account, instead of being scattered across a broker, an exchange, and a wallet that don't talk to each other.
What Makes Backpack a New Generation of Neobrokerage?
Backpack connects traditional securities infrastructure with onchain markets.
Through one account, eligible users can access stocks, crypto, perpetual futures, stablecoins, and tokenized securities issued by Backpack. The difference is not simply that these products are available in one place. It is that Backpack creates a two-way pathway between securities held through established brokerage infrastructure and tokenized securities on Solana.
Traditional Securities and Tokenized Securities
Backpack supports two distinct ownership models.
Traditional securities are held in a Backpack Securities account as real security entitlements governed under New York law, UCC Article 8. These positions use established brokerage, clearing, custody, settlement, and transfer infrastructure.
Tokenized securities issued by Backpack are held in a Solana wallet and represent a tokenized claim on an SPV holding the underlying assets. They use self-custody, onchain settlement, wallet-to-wallet transfers, and supported Solana liquidity.
These ownership forms are connected, but they are not the same.
Eligible securities can be converted into tokenized securities on Solana, while tokenized securities can be redeemed back into the corresponding security entitlement through Backpack Securities. Backpack documents this two-way process in its conversion flow.
One Account Across Stocks and Crypto
Backpack brings stocks, crypto, perpetual futures, and stablecoins into a single account experience.
Rather than maintaining separate brokerage and crypto accounts, users can manage multiple asset classes from the same platform, with shared USD funding where supported. Product eligibility, collateral treatment, and account availability may vary, but the overall experience is designed around one portfolio rather than disconnected financial accounts.
What Tokenized Securities Issued by Backpack Support
Tokenized securities issued by Backpack support:
- Self-custody in a Solana wallet
- Wallet-to-wallet transfers
- Onchain settlement
- 24/7 trading
- Compatibility with supported Solana markets
- Redemption into the corresponding traditional security entitlement
Price exposure is anchored 1:1 through a mint and redemption mechanism.
For tokenized securities, dividend payouts are automatically reinvested into additional tokenized shares. Applicable corporate actions are reflected through proportional token-balance adjustments designed to maintain economic equivalence with the underlying security.
This treatment differs from traditional securities held through Backpack Securities, where cash dividends and corporate actions are processed through traditional brokerage infrastructure.
How This Differs From Price-Tracking Products
A traditional security entitlement is held through brokerage infrastructure.
A Backpack-issued tokenized security is a tokenized claim on an SPV holding the underlying assets and can be redeemed into the corresponding traditional security entitlement through Backpack Securities.
This is different from products that provide only contractual price exposure or cash settlement. Legal structure, redemption rights, dividend treatment, and corporate-action support vary by issuer, so these products should not be treated as interchangeable.
Backpack’s model is built around a connected pathway between traditional securities ownership and onchain distribution.
Trading Across Traditional and Onchain Markets
Traditional securities and tokenized securities use different market infrastructure.
Traditional securities on Backpack are held and settled through traditional securities infrastructure. Tokenized securities issued by Backpack use onchain settlement and trade 24/7 through supported Solana markets.
Trading availability should therefore be described at the product level rather than presented as identical across all Backpack securities products.
Yield on Eligible USD
Eligible USD can earn a yield upto 6.45% through Backpack’s lending market where available.
The broader benefit is that eligible USD can remain productive within the same Backpack account used to access, trade other supported markets.
Research Built Into the Platform
Backpack also brings market research into the same product where users trade.
Earnings and Macro Calendar
The Earnings and Macro Calendar helps users track the company and macroeconomic events that can move markets, including:
- Earnings releases
- Central-bank decisions
- Inflation reports
- Employment data
- Other scheduled market events
The calendar is available across monthly, weekly, and daily views.
Why Backpack Is Different
- Traditional securities held through established brokerage infrastructure
- Tokenized securities issued by Backpack on Solana
- A two-way conversion and redemption pathway between the two
- Self-custody through compatible Solana wallets
- Wallet-to-wallet transfers for tokenized securities
- Onchain settlement and 24/7 trading for tokenized securities
- Access to supported Solana markets and DeFi applications
- Real security entitlements governed under New York law for traditional securities
- Support for cash dividends and applicable corporate actions through traditional brokerage infrastructure
That combination of traditional securities infrastructure, onchain distribution, self-custody, and redemption is what defines Backpack’s neobrokerage model.
Note: Backpack Securities is available to eligible users in supported regions and is not offered everywhere (for example, it is not available in the United States, United Kingdom, U.A.E., or Japan, and is not on Backpack EU). Yield rates are variable, apply where available, and are not guaranteed or a deposit product. Figures are current as of July 2026 and change over time. This article is for general information only and is not financial, investment, legal, or tax advice. Check the official Backpack support pages for current details.
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Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Backpack. Please read our full disclaimer for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Backpack is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice.
