Tokenized IREN ($IREN) Now Available on Solana

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

Token details

About IREN

IREN Limited (Nasdaq: IREN) is a data center company headquartered in Sydney, Australia, with sites in the United States, Canada and Australia. It develops and owns its facilities end to end, from land and grid connections through to the GPUs and software running inside them, and sells AI cloud capacity to customers. IREN started out as bitcoin miner Iris Energy and took its current name in 2024, and it has been converting mining capacity to AI workloads since.

Moving between $IREN and traditional IREN shares

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

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

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

How to trade $IREN

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

$IREN 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 $IREN, are:

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