Backpack CEO Says It Plans to Expand On-Chain Stock Offerings to Approximately 10000 and Connect Them to Solana
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AT A GLANCE
Backpack Plans to expand its on-chain stock offerings and use a single API to connect traditional brokerage accounts with DeFi。
Article
Backpack CEO: Plans to use a single API to achieve the goal of “bringing the entire stock market to Solana”
According to PANews September 26,Backpack CEO Armani Ferrante recently stated that the team plans to expand the approximately 200 listed on-chain stocks to approximately 10,000, achieving the goal of “bringing the entire stock market to Solana.”Backpack plans to use a single API, enabling real stocks to move back and forth between traditional brokerage accounts and DeFi. The on-chain tokens each correspond to real share in both legal and economic terms. Market data show that early this morning, the price of the Backpack token BP reached an all-time high, peaking at 1.43 USD。
Backpack CEO Armani Ferrante stated that the team plans to expand approximately 200 listed on-chain stocks to approximately 10,000.
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Backpack Plans to use a single API, enabling real stocks to move back and forth between traditional brokerage accounts and DeFi.
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The article states that each on-chain token corresponds to real share in both legal and economic terms.
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Market data show that Backpack's BP token price once peaked at 1.43 USD。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Backpack Proposes expanding the number of on-chain stocks and enabling real stocks to move between traditional brokerage accounts and DeFi. The report describes this goal as bringing the entire stock market to Solana。
Why it matters to readers
If the plan proceeds, the scope of connectivity between on-chain stocks and traditional financial accounts could expand.
This indicates that stocks could be represented as on-chain tokens and connected to traditional brokerages and DeFi。
Risks and unknowns
The evidence does not specify a timeline for listing approximately 10,000 stocks.
The evidence does not specify the markets covered or the particular brokerage partners.
The evidence does not provide details on regulatory approvals, reserves, or redemption mechanisms.
The evidence only makes clear that this is the team’s plan; it does not establish that the goal has already been achieved.
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API
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