Tokenized AMD ($AMD) Now Available on Solana 

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

Token details

About AMD

Advanced Micro Devices, Inc. (Nasdaq: AMD) is a semiconductor company based in Santa Clara, California, started in 1969 by Jerry Sanders and a group of colleagues from Fairchild Semiconductor. It designs EPYC processors for servers, Ryzen processors for PCs, Radeon graphics cards, and Instinct accelerators for AI and high-performance computing, plus the FPGA and adaptive computing range it picked up by acquiring Xilinx in 2022. AMD is fabless, so it designs its chips and leaves production to outside foundries such as TSMC.

Moving between $AMD and traditional AMD shares

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

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

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

How to trade $AMD

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

$AMD 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 $AMD, are:

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