Tokenized Alphabet ($GOOGL) Now Available on Solana

Backpack expands its tokenized stock lineup on Solana with Alphabet ($GOOGL). Each $GOOGL token is tradable 24/7 and redeemable 1:1 for a traditional share of Alphabet (Nasdaq: GOOGL) through Backpack Securities.

Token details

About Alphabet

Alphabet Inc. (Nasdaq: GOOGL) is the holding company for Google and a group of other technology businesses, with offices in Mountain View, California. It reports through three segments: Google Services, covering ads, Android, Chrome, devices, Google Maps, Google Play, Search and YouTube, Google Cloud, covering infrastructure and platform services, Google Workspace and other enterprise products, and Other Bets, a grouping of smaller businesses whose revenue comes mainly from autonomous transportation and internet services. Alphabet was created in 2015 as a restructuring of Google, which had been founded in 1998.

Moving between $GOOGL and traditional GOOGL shares

$GOOGL and traditional Alphabet Inc. (Nasdaq: GOOGL) shares are convertible 1:1 through Backpack Exchange. The flow works the same way as depositing or withdrawing a stablecoin.

Withdraw a share of Alphabet from Backpack Exchange to tokenize it into $GOOGL on Solana.

Deposit $GOOGL from a Solana wallet to Backpack Exchange to convert it back into the underlying GOOGL share held in Backpack Securities.

How to trade $GOOGL

You can trade Backpack-issued $GOOGL on Solana using Backpack Wallet.

$GOOGL is also accessible across the Solana ecosystem, including decentralized exchanges, aggregators, wallets, and apps such as Backpack, fomo, Titan, Jupiter, Phantom, Solflare, Raydium, Kamino, and others.

Unlike most tokenized stocks that only track a price, tokenized securities issued by Backpack, including $GOOGL, are:

• Redeemable 1:1 for real underlying shares
• Transferable to traditional brokerages