Solana-Based Backpack Aims to Bring Entire Stock Market On-Chain

Backpack, a decentralized exchange (DEX) built on Solana, has ambitious plans to bring the entire stock market onto its platform. According to Backpack's CEO Armani Ferrante, the goal is not to list a select few stocks, but to enable all assets to move freely between brokerage accounts and decentralized finance (DeFi) through a single API.

Ferrante outlined the plan at a September 26 event, stating that the company currently lists 200 stocks and aims to expand this number to 10,000. This would allow users to seamlessly transition between traditional stock trading and DeFi applications on Solana.