Work Here?
Overview
Backpack Exchange runs a global crypto platform with a regulated exchange, a self-custodial multi-chain wallet, and a Solana-based NFT ecosystem. The exchange earns trading fees on spot and futures, while the Wallet supports xNFTs—executable NFTs that run apps inside the wallet. It differentiates itself through a Dubai VARA license, transparent custody using zk-proofs and MPC, and deep ties to the Solana ecosystem and Anchor framework. Its goal is to provide a compliant, transparent platform for trading, custody, and in-wallet executable applications across multiple blockchains.
About Backpack Exchange
Industries
Fintech
Cybersecurity
Crypto & Web3
Financial Services
Company Size
51-200
Company Stage
Series A
Total Funding
$17M
Headquarters
San Bernardino, California
Founded
2021
Get referred to Backpack Exchange
See people who can refer or advise you
Simplify's Take
What believers are saying
- July 2026 tokenized equities hit $1.06 billion monthly volume, proving real trader demand.
- Backpack Securities now lets Micron and SanDisk shares collateralize perpetuals, loans, and margin.
- MiCA and VARA licenses plus 150-country access widen distribution before rivals match compliance.
What critics are saying
- July 16, 2026 status page logged 1 hour 19 minutes of downtime; trust erodes fast.
- Coinbase, Hyperliquid, and xStocksFi compress Backpack's edge with similar equity-perp products.
- Regulators can choke cross-border tokenized equities, freezing U.S. expansion and killing volume.
What makes Backpack Exchange unique
- Backpack combines a licensed exchange, brokerage, wallet, and on-chain equity rails on Solana.
- July 10, 2026 launched 24/7 real U.S. equities; September 1 added equity perpetuals.
- September 2, 2026 added Kyle Samani, deepening Solana and regulation credibility.
Help us improve and share your feedback! Did you find this helpful?
Funding
Total Funding
$17M
Above
Industry Average
Funded Over
1 Rounds
Industry standards
Benefits
Flexible Work Hours
Hybrid Work Options
Stock Options
Company Equity
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 3%2 year growth
↑ 12%Backpack US appoints Multicoin capital co-founder Kyle Samani to board. Samani is a crypto industry veteran whose appointment reinforces Backpack's strategy to bridge regulated markets with decentralized financial networks. September 02, 2026 09:30 ET | Source: Backpack SAN FRANCISCO, Sept. 02, 2026 (GLOBE NEWSWIRE) - Backpack, a global financial institution bridging crypto with traditional financial markets, today announced the appointment of crypto venture capitalist Kyle Samani to its board of directors. Best known as the co-founder of renowned VC firm Multicoin and an early investor in Solana, Samani has been a prominent and trusted voice on decentralized finance, blockchain infrastructure, and the evolution of global capital markets. "Kyle's deep experience in building and shaping decentralized financial networks, paired with his longstanding advocacy for clear, workable rules for the crypto industry, makes him an ideal addition to our board," said Armani Ferrante, CEO of Backpack. "Kyle shares our conviction and excitement about the opportunity that blockchain-based finance presents, and his keen understanding of what we are building makes him a natural advocate and advisor for Backpack." Samani is an advocate for thoughtful regulation of crypto, strengthening consumer and investor protections while enabling true innovations of blockchain, directly in line with Backpack's compliance-first, blockchain native, and user-centric strategy. Samani is also a leading voice on the convergence of traditional finance and decentralized markets, driving discussion on the migration of institutional products onto high performing and decentralized blockchains. "The future of global capital markets isn't DeFi vs. Trad-Fi, it's integrating the best of both: institutional risk-controls with on-chain efficiency and transparency," said Kyle Samani. "I've been impressed with what Backpack is building since day one. Armani and his team will fundamentally change what we think we know about our global economy." Samani's board appointment comes in tandem with continued momentum for Backpack following its launch of the world's first 24/7 trading for real U.S. equities - including SpaceX, Micron, SanDisk, and, most recently, SK Hynix - and a growing suite of tokenized equities. Samani joins an esteemed group of financial professionals with expertise across the crypto and regulatory landscape on Backpack's board, including Dr. Michael S. Piwowar's appointment earlier this summer. As Backpack accelerates its U.S. expansion, it has made a number of leadership and board appointments to solidify the company's position as it establishes the regulated financial infrastructure to bridge traditional and digital assets. About Backpack Backpack is a crypto-native global financial institution bridging on-chain with traditional financial markets. Designed for both crypto-native and TradFi investors, Backpack aims to usher in the next generation of finance with unparalleled accessibility, utility, and compliance. The Backpack group includes a fully regulated global crypto exchange, a self-custodial wallet, as well as Backpack Securities, which combines a regulated brokerage with a complementary tokenization platform to provide investors with access to real equity ownership and blockchain-native distribution of publicly traded securities together within a single product experience. Backpack currently serves users from over 150 countries and regions with more than $450 billion in trading volume. For more information visit https://backpack.exchange/ or @Backpack on X. Press contact: [email protected]
Backpack exchange launches four equity perpetuals and real US shares as cross-asset collateral. Backpack launched MU-PERP, SNDK-PERP, SPY-PERP, and QQQ-PERP on September 1, with real Micron and SanDisk shares accepted as cross-asset margin collateral. Backpack launched four equity perpetual futures markets on September 1 alongside a cross-asset collateral system that accepts real Micron and SanDisk shares as margin. The combination of a licensed brokerage holding actual stock shares and a 24/7 derivatives exchange on Solana SOL$99.20-2.8% addresses a gap that traditional brokerages and pure-crypto exchanges have each left open. Keep up to date with the Solana eco The new markets are MU-PERP, SNDK-PERP, SPY-PERP, and QQQ-PERP, per Backpack's official announcement. They track Micron Technology (Nasdaq: MU), SanDisk Corporation (Nasdaq: SNDK), the SPYx..., and the QQQx... without conveying ownership, shareholder rights, or dividend entitlements. Four new markets: specs and mechanics. All four contracts share the same core parameters: Max Leverage Funding Interval Settlement Trading Hours Minimum trade size is 0.001 contracts for MU-PERP and SNDK-PERP, and 0.01 contracts for SPY-PERP and QQQ-PERP, with a $0.01 tick size across all four markets. Pricing uses a mark price mechanism deliberately decoupled from the last traded price, to reduce single-trade liquidation risk, as Backpack's equity perpetuals explainer describes. The hourly funding interval is shorter than the eight-hour window standard on most crypto perpetuals exchanges. More frequent resets keep the contract price closer to the reference equity price, which matters most during the roughly 17 hours per weekday when US equity markets are closed. When the underlying exchange is not open, the mark price is maintained within a band around the last close, with funding pulling it back toward the reference when markets reopen on the next session. The equity collateral system. The more structurally significant part of the September 1 launch is what Backpack calls unified portfolio margin. Users who hold real MU... or SanDisk shares through Backpack Securities, the exchange's regulated brokerage arm, can now deploy those holdings in three ways: as margin for perpetual futures positions, as collateral to borrow USD, or to trade spot on margin. The shares are held as security entitlements by the licensed broker. They do not convert into tokenized representations to cross into the trading account. Only MU and SNDK are eligible as collateral at launch. Both are among Backpack's highest-volume equity listings. In Q2 2026, Backpack Securities held 95% of cumulative on-chain volume for Micron and led six of nine shared tokenized stocks against xStocks, making them a natural choice for the first collateral-enabled assets. The Micron holder base on Solana has grown steadily since the July equity launch: from 229 holders in late June to 1,906 on September 1 per Solana Compass data, the day the collateral feature went live. SanDisk holds 968 holders as of the same date. These are the wallets that now have access to the cross-asset margin system. Trading crypto against stock collateral: the infrastructure gap. A traditional brokerage account accepts your equity portfolio as margin, but it will not give you access to 24/7 crypto derivatives. A crypto exchange provides that round-the-clock derivatives infrastructure, but it will not accept stock certificates as collateral; it requires stablecoins or crypto assets. Backpack's account sits at the intersection of both requirements. Stock positions are held as real security entitlements under a licensed broker framework, not wrapped tokens. The crypto and derivatives infrastructure runs on Solana, enabling execution any hour of any day. A user can deploy MU shares to margin a BTC position or an SPY perpetual without any asset conversion step in between. The practical comparison worth drawing is to Kraken Pro, which enabled xStocks (tokenized representations of equities) as margin collateral in June 2026. That model converts equities into on-chain tokens first, then uses those tokens as collateral. Backpack's approach keeps the underlying shares in the brokerage layer and makes the cross-margin account read both the brokerage and the exchange simultaneously, a different structural arrangement even if the surface result looks similar. How Backpack's real-stock collateral compares to coinbase and hyperliquid. Equity perpetuals are not new on Solana or across the broader crypto market. Phoenix Trade listed approximately 29 equity perp markets as of late August 2026. Coinbase has offered equity perpetual futures for non-US eligible traders since earlier in 2026. Hyperliquid operates one of the largest perp venues by notional volume globally, though as a decentralized order book it has no brokerage layer to accept real stock certificates. Backpack's edge comes from the combination: a licensed brokerage holding real shares, a 24/7 derivatives venue on Solana, and a unified margin account that treats brokerage and exchange positions as a single collateral pool. From 24/7 spot trading to perpetuals: Backpack's equity arc on Solana. This launch extends the milestone Backpack reached in July 2026, when it opened the first 24/7 market for real US equities for international investors, allowing them to buy, hold, and sell actual US securities around the clock. That launch introduced spot holding of real shares. September 1 adds the derivatives layer and the collateral bridge on top, with SPCX..., Micron, SanDisk, and the Roundhill Memory ETF ($DRAM) among the equities Backpack and its partner SunriseDeFi have listed on Solana to date. Armani Ferrante, the CEO of Backpack, co-created Anchor, the smart contract framework that underpins the majority of programs deployed on Solana. The exchange recorded $1.06 billion in July 2026 monthly volume as its equity and derivatives product lines have expanded through the year. Product and service availability for both the new perpetuals and the equity collateral feature varies by jurisdiction, per the official announcement.
TRX listing on Backpack Exchange: expanding trading options. August 4, 2026 Introduction to TRX listing on Backpack Exchange. Backpack Exchange has announced the listing of TRON (TRX) for both spot and perpetual trading, adding TRX/USD and TRX-PERP markets to its exchange lineup. According to the listing materials, the announcement was made on July 29, 2026, with TRX spot trading and perpetual contracts offering up to 10x leverage. The TRX listing is a significant development for TRON users, providing them with more trading options and flexibility. This move is expected to increase the adoption of TRX and provide a boost to the TRON ecosystem. Impact on TRON and crypto market. The listing of TRX on Backpack Exchange provides traders with another venue for accessing TRX markets. This listing can potentially increase liquidity and trading volume for TRX, but its impact on the global liquidity should not be overstated. The real impact depends on various factors such as volume, market-maker support, user demand, spreads, liquidity depth, and whether traders actually migrate activity to the new markets. TRX is a widely traded cryptocurrency, and its listing on Backpack Exchange can attract new traders and investors to the platform. The increased trading activity can lead to higher revenue for the exchange and create new opportunities for market makers and liquidity providers. Why spot and perpetual markets matter. A spot listing gives users direct access to buy and sell TRX, while a perpetual listing adds leveraged trading, hedging, and short exposure. For many active crypto traders, perpetual contracts are where the real action happens because they allow more flexible positioning without needing to hold the asset directly. Listing both spot and perpetual markets gives an exchange a fuller TRX trading stack, enabling traders to move between spot exposure and derivatives positioning without leaving the platform. This can lead to increased trading activity and revenue for the exchange. The combination of spot and perpetual markets also provides traders with more options for risk management and hedging, which can help to reduce volatility and increase market stability. TRON's stablecoin role. TRON remains one of the most important networks for stablecoin transfers, especially USDT activity. This gives TRX a different market profile from many altcoins. Traders do not only watch TRON as a speculative Layer 1; they also watch the network's payment and stablecoin settlement role. Exchange access can support that broader ecosystem, but a single listing does not transform network usage by itself. The stablecoin role of TRON can attract institutional investors and traders who are looking for a reliable and efficient way to transfer stablecoins. The increased adoption of TRON's stablecoin ecosystem can lead to higher demand for TRX, which can drive up the price and increase the overall value of the TRON ecosystem. Perpetuals add leverage risk. The 10x leverage detail deserves caution. Leverage can make markets more liquid and efficient, but it can also amplify volatility. Perpetual markets often attract short-term traders, funding-rate strategies, hedgers, and speculative flows. If open interest builds quickly, TRX may become more sensitive to liquidation cascades or crowded positioning on that venue. Traders should be aware of the risks associated with perpetual contracts and adjust their trading strategies accordingly. The high leverage offered by perpetual contracts can lead to significant losses if not managed properly, and traders should always use risk management techniques such as stop-loss orders and position sizing to minimize their exposure to potential losses. Backpack Exchange's market coverage. For Backpack Exchange, adding TRX expands its market coverage. Exchanges compete by listing assets traders want, building reliable execution, attracting liquidity providers, and offering products across spot and derivatives. TRX is a logical addition because it is a large, liquid asset with an active global user base. The question is whether Backpack can attract meaningful volume. Listing the market is step one; depth and sustained activity are what determine importance. Backpack Exchange will need to continue to innovate and improve its services to attract and retain traders. The exchange will need to provide competitive fees, reliable execution, and a user-friendly interface to stay ahead of the competition. Measured read on TRX listing. The measured takeaway is that TRX now has spot and perpetual markets on Backpack Exchange. That gives traders another route into the asset and expands product availability. It may support liquidity at the margin, but it should not be framed as a major adoption milestone unless volume data later supports that. For TRON, the bigger story remains its stablecoin-transfer footprint and network utility. The TRX listing on Backpack Exchange is a positive development, but its impact will depend on various factors, including trading volume and market conditions. Traders should monitor the trading activity and liquidity on the exchange to determine the success of the listing. Regulatory angle and operational consequences. The listing of TRX on Backpack Exchange also raises regulatory and operational considerations. As the crypto market continues to evolve, exchanges must navigate complex regulatory landscapes and ensure compliance with various laws and regulations. The operational consequences of listing a new asset can be significant, and exchanges must carefully manage risk and ensure the stability of their platforms. Regulatory compliance is crucial for the long-term success of any exchange, and Backpack Exchange will need to ensure that it meets all regulatory requirements. The exchange will need to implement robust anti-money laundering (AML) and know-your-customer (KYC) policies to prevent illicit activities and ensure the integrity of the platform. Market impact and user risk. The listing of TRX on Backpack Exchange can have significant market impact and user risk. Traders should be aware of the risks associated with perpetual contracts and the potential for amplified volatility. It is essential to carefully evaluate the risks and rewards before engaging in any trading activity. Traders should also stay informed about market developments and regulatory changes. For more information on the crypto market and exchange listings, visit the DeFi market dashboard. Conclusion. In conclusion, the listing of TRX on Backpack Exchange is a significant development for TRON users and the crypto market. The listing provides traders with more trading options and flexibility, and it can lead to increased adoption and demand for TRX. However, traders should be aware of the risks associated with perpetual contracts and the potential for amplified volatility. The success of the listing will depend on various factors, including trading volume and market conditions. Traders should monitor the trading activity and liquidity on the exchange to determine the success of the listing. For more information on the crypto market and exchange listings, visit the DeFi market dashboard.
Solana expands offerings with $1.5B in tokenized securities - what it means for traders. July 13th, 2026 Solana news: Backpack launches six tokenized securities with $1.5B in trading volume. Here's why traders are paying attention. Quick take. Summary is AI generated, newsroom reviewed. * Solana's new tokenized securities could reshape trading dynamics. * Backpack's launch signifies strong market interest in tokenization. * Traders are closely monitoring Solana's expanding offerings. Sponsored: Rainbet - 20k Weekly Raffle FREE ticket, 3000+ Slots/Originals/Sports Claim Ticket Traders scanning the order books got a surprise when Backpack announced the launch of six tokenized securities on Solana. This development comes amidst a backdrop of rising confidence in the crypto market, with the total trading volume for these securities reaching $1.5 billion. The move signifies a notable step in Solana's evolution as a key player in the tokenization space. What went down. The recent announcement from Backpack marks a significant milestone for Solana, as it introduces six tokenized securities including $SPCX, $MU, $SNDK, $DRAM, $BOT, and $SKHY. Each security is redeemable on a 1:1 basis, reinforcing trust in the offerings. With a trading volume of $1.5 billion, this launch demonstrates strong market interest and positions Solana as a preferred platform for innovative financial products. The broader crypto market is currently showing mixed signals, yet the enthusiasm surrounding Solana's advancements continues to grow, particularly among traders looking for new opportunities. Solana has been gaining traction as a leading blockchain for high-speed and cost-effective transactions. The recent success of tokenized securities reflects a broader trend in the crypto market towards innovative financial solutions. Historically, Solana has positioned itself as a competitor to Ethereum, particularly in the realms of decentralized finance and tokenization, making its latest offerings particularly noteworthy. What traders are watching next. As the crypto market evolves, traders should watch for further developments related to Solana's tokenized securities. The significant trading volume signals a growing interest that could lead to more innovations on the platform. Additionally, the ongoing whale accumulation in Solana suggests that larger investors are increasingly confident in its future potential. Monitoring how these new securities perform will be crucial for understanding Solana's impact on the market and its competition with other ecosystems. Contributors: Coinfomania News Room Followed by top voices in crypto Follow Coinfomania LLC on google news. Get the latest crypto insights and updates.
Backpack EU secures MiCA and payment institution licenses from Latvia. Phemex News 2026/07/01 00:03 Backpack EU has announced the acquisition of a MiCA license and a payment institution license from the Bank of Latvia. This development, shared on the X platform, enhances Backpack EU's regulatory standing, allowing it to provide services across all 27 EU member states. With the addition of these licenses, Backpack EU now holds three key licenses, including the previously obtained MiFID II license, covering crypto, brokerage, and payment services. Disclaimer: The content provided on Phemex News is for informational purposes only. Phemex do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. Phemex strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
There are no jobs for Backpack Exchange right now.
Find jobs on Simplify and start your career today
About Backpack Exchange
Industries
Fintech
Cybersecurity
Crypto & Web3
Financial Services
Company Size
51-200
Company Stage
Series A
Total Funding
$17M
Headquarters
San Bernardino, California
Founded
2021
There are no jobs for Backpack Exchange right now.
Find jobs on Simplify and start your career today