Introducing Tokenized SpaceX ($SPCX)

Backpack Securities combines real securities ownership with on-chain distribution.

Investors can hold SpaceX shares through established brokerage infrastructure, convert them into tokenized securities on Solana, and redeem tokenized securities back into the corresponding security entitlement through Backpack Securities.

By connecting traditional brokerage infrastructure and blockchain networks through a seamless, two-way door, Backpack creates a direct pathway between securities ownership and onchain distribution. This gives investors the flexibility to access both traditional securities infrastructure and blockchain-native markets from a single platform.

Two ways to hold $SPCX

SpaceX shares on Backpack can be held in one of two forms. 

Traditional Securities on Backpack: Real security entitlements governed under New York law (UCC Article 8), supported by established brokerage, clearing, custody, and transfer infrastructure, with real ownership rights including cash dividends, corporate actions, brokerage transfers, and applicable tax treaty benefits.

Tokenized Securities Issued by Backpack: Self-custodied tokenized securities on Solana with 24/7 trading, wallet-to-wallet transfers, DeFi compatibility.

Move between the two forms

The two forms are connected through a seamless, two-way door. Seamlessly convert traditional securities into tokenized securities and vice versa through Backpack Securities deposits and withdrawals. On/off-ramp securities between traditional brokerages and Solana.

The process is designed to be as straightforward as depositing or withdrawing a stablecoin between a wallet and an exchange.

Dividends and corporate actions

Dividends and corporate actions are supported across both ownership models.

• For securities held through Backpack Securities, cash dividends and corporate actions are processed through traditional brokerage infrastructure.
• For tokenized securities, dividend payouts are automatically reinvested into additional tokenized shares, while applicable corporate actions are reflected through proportional token balance adjustments designed to maintain economic equivalence with the underlying security.

Tokenized $SPCX Issued by Backpack vs. Typical Tokenized Stock

Most tokenized stocks on the market stop at tracking the price. Tokenized securities issued by Backpack go further: each token is redeemable 1:1 for the real underlying security.

The descriptions provided herein are for informational purposes only. For details, please see the Backpack Securities Terms of Service, available in the User Agreement.