I was looking at the recent data on tokenized assets on Solana and this stood out to me.

Just three months after launching its first tokenized stock, Backpack Securities has reached 41 tokenized assets and $7.8B in cumulative onchain trading volume, according to Birdseye data.

The growth is pretty interesting when you look at the timeline.

What changed?

The first Backpack Securities asset was $SPCX. Since then, the platform has expanded into dozens of tokenized assets, with U.S. equities being a major part of the activity.

The model is also different from simply creating a synthetic asset that tracks a stock price. Backpack’s tokenized securities are designed to be redeemable 1:1 for the underlying shares, connecting traditional securities infrastructure with onchain markets.

A few numbers that caught my attention:

\* 41 tokenized assets  
\* $7.8B cumulative onchain volume  
\* First asset: $SPCX  
\* Tokenized securities issued on Solana  
\* 1:1 redemption for underlying shares  
\* Traditional brokerage infrastructure connected with onchain liquidity

The interesting question for me is whether this is just early RWA growth or the beginning of a much larger shift toward trading traditional assets onchain.

Do you think tokenized equities will become one of Solana’s biggest use cases?

Backpack Securities Is Becoming a Major RWA Issuer on Solana