Strategy tokenizes its stock on Solana for round-the-clock trading

Strategy Inc. has turned its own stock into a crypto token. On July 28, 2026, the company formerly known as MicroStrategy launched a tokenized version of its shares on the Solana blockchain, issued through Backpack Securities via the Sunrise gateway. Each token represents one real underlying share, held in custody and fully redeemable. This is not a synthetic or a cash-settled tracker. It is the actual equity, wrapped in a Solana token. The result: $MSTR now trades on Solana DEXes like Raydium and Jupiter, around the clock, with instant settlement and zero fees on select swaps. What actually launched, and how it works The distinction from prior tokenized equity products matters here. Previous versions of tokenized stocks were often synthetic instruments that tracked price performance without giving holders any claim on real shares. The 1:1 redemption mechanism means each on-chain token corresponds to a custodied share that can be redeemed for the underlying equity. Initial on-chain data showed 5,301 $MSTR tokens distributed across roughly 30 investors on day one. First-day trading volume hit $36 million. The early market cap came in around $500K, meaning the token supply was modest...