What is Backpack US Stocks? Real equity, plus crypto-native advantages

Backpack US Stocks are real US equities that you buy and sell directly in your Backpack account, held through regulated US brokers. Buy 1 share and you truly own 1 share of equity.

After Backpack launched US stock trading, the first question many people asked was: what exactly is this? How does it differ from the brokers I'm familiar with, or from the "onchain US stocks" already on the market? This article explains what Backpack US Stocks actually is, how it differs from other products, and what advantages are unique to Backpack.

What exactly is Backpack US Stocks?

Backpack US Stocks are real US equities, held through regulated US brokerage infrastructure. When you buy 1 share, what you hold is the corresponding real equity, protected under New York UCC, not a synthetic product that only tracks share prices. Because it is real ownership, you receive cash dividends and participate in corporate actions such as stock splits and mergers, with the same rights you would have when buying stocks at a traditional broker (actual scope depends on applicable regulations and operational arrangements).

On the regulatory side, Backpack US's Board of Directors includes Mike Piwowar, former US SEC Commissioner and Acting Chairman, and Mark Wetjen, former CFTC Commissioner and Acting Chairman, who oversee compliance and regulatory review for the securities business. On institutional and compliance matters, people familiar with US financial regulation are involved. 

How does it differ from other "US stocks" products on the market?

Two comparisons make the distinction clear:

• Compared to synthetic/tokenized wrapped products: These types of products are mostly just synthetic positions that track share prices; you do not actually hold the stocks. Backpack holds the real stocks, so you can receive cash dividends and participate in corporate actions.
• Compared to traditional brokers: Traditional brokers keep your crypto assets, cash, and stocks in separate places. Backpack integrates them into one account: you can deposit with stablecoins, and idle assets can optionally enable Auto Lend to earn floating interest. Capital is managed in one place, reducing the cost of moving between different platforms.

What can you buy? How do you get started?

Backpack US Stocks offers real U.S. stocks and ETFs, including S&P 500 constituents, with direct access to US stock market liquidity.

Getting started is straightforward:

• Verify: Complete KYC once through your Backpack account. The same verification covers stocks, no separate signup needed. 
• Fund: Deposit via stablecoins (USDC, USDT) from your Backpack balance, or wire transfer in U.S. dollars from a bank account
• Trade: Buy and sell U.S. stocks directly from the same account

What other features are coming soon?

Backpack US Stocks has several features on its roadmap that will be rolled out gradually:

• 24/7 trading: Trading hours will expand toward 24/7 coverage, including weekends. Extended weekday hours, including pre-market and after-hours, are already being rolled out gradually.
• Stocks as collateral: In the future, stocks may be included alongside crypto assets in Backpack's unified margin system, used as collateral to further improve capital efficiency.

The Bottom Line

Backpack US Stocks is real U.S. stocks, combined with a crypto-native account experience. You buy real equity, receive dividends, and participate in corporate actions. You can also fund with stablecoins, let idle capital earn interest, and manage your investments alongside your existing crypto assets in one account.