Backpack enhances liquidity for tokenized equities with dynamic supply model on Solana

Backpack Securities has built something that looks a lot like the stablecoin playbook, except instead of dollars, it works with actual equities. Users can mint tokenized versions of stocks by depositing real shares, then redeem them back whenever they want, keeping the onchain token supply elastic and pegged to genuine underlying assets. The model has caught on faster than most expected. Total tokenized equity supply across Solana hit $684 million as of September 11, 2026, and the platform crossed $1 billion in trading volume during July alone. How the mint-and-redeem model works Think of it like a coat check for stocks. You hand over your shares, get a token receipt that trades freely onchain, and reclaim your shares whenever you’re done. The 1:1 backing means these tokens aren’t synthetic derivatives or price trackers. They represent real ownership of the underlying equity, held in custody. This redeemability anchors the token price to the actual share price, since arbitrageurs will step in whenever the two diverge, and lets supply expand or contract based on demand. Dividends don’t get lost in the translation either. When a company pays out, Backpack automatically adjusts token ...