Nike Stock Token NKE Now Available for Trading on Solana
Nike's stock token 'NKE' is now available for trading on Solana, a layer 1 blockchain. The news was announced by Solana via their official X account. NKE is designed to be traded 24 hours a day, 365 days a year. It is issued by Backpack Securities, a securities business of the wallet and exchange provider Backpack.
NKE is a tokenized security that tracks the price of Nike's stock listed on the New York Stock Exchange (NYSE). According to Backpack, NKE represents a claim on the underlying asset held in a special purpose vehicle (SPV). Users who meet certain conditions can exchange their NKE for equivalent rights to Nike's stock.
The availability of NKE on Solana follows the launch of other tokenized securities, including those of GoPro and AMC Entertainment. These tokens are available through Backpack's asset gateway 'Sunrise', which enables users to trade a range of assets on Solana. The Sunrise gateway is also responsible for ensuring liquidity and providing access to wallets and decentralized exchanges (DEXs).