Tokenized Meta Platforms ($META) Now Available on Solana

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

Token details

About Meta Platforms

Meta Platforms, Inc. (Nasdaq: META) is a technology company headquartered in Menlo Park, California, incorporated in 2004 and listed since 2012. It reports through two segments: Family of Apps, covering Facebook, Instagram, Messenger, WhatsApp, Threads and Meta AI, which together carry the advertising business that produces nearly all of the company’s revenue, and Reality Labs, covering virtual and augmented reality hardware, software and content including Meta Quest devices and AI glasses. The company traded as Facebook, Inc. until October 2021.

Moving between $META and traditional META shares

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

Withdraw a share of Meta Platforms from Backpack Exchange to tokenize it into $META on Solana.

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

How to trade $META

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

$META 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 $META, are:

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