Backpack’s tokenized $GRND stock hits $14M in volume within two hours

A tokenized version of Grindr’s stock just did more volume on Solana in two hours than the real thing did on the New York Stock Exchange. The token, $GRND, racked up $14.1 million in trading volume within 120 minutes of its September 10 launch through Backpack Securities, the regulated brokerage arm of the Solana-native Backpack exchange. How tokenized equities work on Backpack Backpack’s tokenized equities program launched in June 2026, starting with SpaceX ($SPCX) as one of its flagship offerings. Each token is backed 1:1 by actual US shares held in regulated custody, with minting and redemption pathways running through ACATS and DTCC infrastructure. These tokens trade 24/7 on Solana-based DEXs, meaning no market close, no waiting for the opening bell, no after-hours limitations. Around the time of the $GRND launch, Backpack added over 20 new tokenized stocks to its roster. The platform has also rolled out features like dividend tracking and the ability to use equity tokens as collateral for perpetual contracts. Cumulative trading volume across Backpack’s tokenized equity program has reached into the hundreds of millions to billions since inception, with the platform capturing th...