Backpack Expands Margin Collateral Options with Micron and SanDisk

Backpack Exchange has expanded its platform to allow users to post Micron and SanDisk shares as collateral in a unified portfolio-margin account. This means that users can use their stock holdings to support U.S. dollar borrowing, futures trades, and spot margin.

The exchange also introduced 24/7 perpetual futures on MU (Micron), SNDK (SanDisk), SPY (SPDR S&P 500 ETF Trust), and QQQ (Invesco QQQ ETF). This allows users to trade these assets with no time limitations. The exchange had previously offered international investors round-the-clock buying, holding, and selling of selected real U.S. equities.

Backpack's earlier announcement stated that investors held full ownership of traded U.S. shares and could bridge between traditional securities and tokenized representations on Solana on a one-to-one basis. However, the newly announced scope is limited to two named equity collateral assets (Micron and SanDisk) and four perpetual markets.