Tokenized Broadcom ($AVGO) Now Available on Solana

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

Token details

About Broadcom

Broadcom Inc. (Nasdaq: AVGO) is a technology company headquartered in Palo Alto, California, that designs and supplies semiconductors and infrastructure software for large organisations. It reports through two segments: Semiconductor Solutions, covering custom AI accelerators, ethernet switching and routing silicon, broadband and wireless connectivity chips and storage controllers, and Infrastructure Software, built largely on VMware along with mainframe and cybersecurity products. The company took its present shape through acquisitions, including Avago’s purchase of the original Broadcom Corporation and later deals for CA Technologies, Symantec’s enterprise business and VMware, and it kept Avago’s AVGO ticker.

Moving between $AVGO and traditional AVGO shares

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

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

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

How to trade $AVGO

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

$AVGO 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 $AVGO, are:

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