Strategy's Stock Token Launches on Solana with $36 Million in First Day
MicroStrategy, now rebranded as Strategy, has tokenized its stock and launched it on Solana through the Sunrise gateway. The $MSTR token went live on July 28, allowing traders to swap the tokenized equity instantly without fees on Solana's decentralized exchanges.
The token was issued by Backpack Securities and is available on DEXes and aggregators across the Solana ecosystem. Early trading volume reached $36 million in the first 24 hours.
Sunrise, spearheaded by Wormhole Labs, serves as Solana's primary gateway for external assets, including tokenized equities. It provides native liquidity through its own DEX and partnerships with platforms like Jupiter.
This is not Strategy's first venture into tokenized equity; Backpack Securities has previously issued shares of companies like Micron ($MU) and Robinhood ($HOOD), accumulating cumulative trading volumes exceeding $1.8 billion.