Backpack CEO Armani Ferrante has unveiled a plan to expand tokenized stock access on Solana from roughly 200 listed symbols to 10,000 — a roughly fiftyfold jump that, he says, would effectively bring the entire stock market onto the blockchain. The company currently offers around 200 stock symbols through its securities platform.

At the core of the plan is a single application programming interface (API) through which a real share could move back and forth between a customer's brokerage account and decentralized finance (DeFi) applications. Under the proposed model, a share would not be confined to traditional brokerage rails or to on-chain platforms, but could move between the two environments as its holder chooses.

Armani Ferrante, CEO of Backpack, on what comes next for tokenized stocks. "Not 10 stocks, not 100 stocks. We want to bring the entire stock market to Solana. One API where a real share, by any definition of the term, moves back and forth between your brokerage account and DeFi.… pic.twitter.com/KF5Zi26a9b

— Solana (@solana) September 26, 2026

The remarks came in a video clip shared by Solana's official account on September 26. In it, Ferrante said the goal is to make the entire stock market available through blockchain technology.

"Not 10 stocks, not 100 stocks. We want to bring the entire stock market to Solana," Ferrante said.

He called the planned jump from 200 to 10,000 symbols "the next leap," framing it as the next phase of a securities business the company has been building since June. No launch date was provided, and the announcement did not identify which stocks would be added first.

How Backpack's System Works

Backpack introduced its securities platform in June. The company lets customers hold U.S. stocks and exchange-traded funds through a brokerage service, after which eligible holdings can be converted into tokenized versions that live on Solana. Depositing a supported token back through Backpack Exchange converts it into a conventional security, allowing shares to move in both directions between the brokerage and the blockchain. That two-way convertibility is the mechanic on which the single-API vision rests.

According to Backpack, holdings on the platform follow New York's Uniform Commercial Code Article 8. The company also says the platform supports dividends, corporate actions, and transfers using established brokerage systems such as ACATS.

On Solana, the tokens can be held in compatible wallets and transferred to other users. Backpack says they can also be used in DeFi applications, depending on the rules of each individual product.

Backpack's first tokenized product was tied to SpaceX and launched in June with a partner called Sunrise. The company later added tokens tied to other companies, including Micron and SanDisk. In September, it added a token tied to CoreWeave.

What Rights Token Holders Actually Get

A difference exists between owning a regular brokerage share and a tokenized version, even when Backpack says the two convert one for one. For its Micron product, Backpack says regular brokerage holders receive cash dividends in the standard way, while token holders instead have their dividends reinvested as additional tokens. Corporate actions are handled by adjusting token balances rather than through conventional channels.

The U.S. Securities and Exchange Commission has warned that not all tokenized securities work the same way. In a January statement, the agency said the rights attached to a token depend on how it was built: some tokens are backed by real shares held in custody, while others create different types of claims entirely.

On September 17, the SEC created a five-year framework allowing certain venues to trade tokenized stocks under specific conditions. Venues must confirm that token holders receive the same rights as regular shareholders, and trading in a tokenized stock must halt if trading in the underlying stock is halted as well. Backpack's announcement did not say how structures like the Micron token's reinvested dividends would fit within that same-rights requirement.

The SEC has not named Backpack as a venue operating under the new exemption. Separately, Backpack recently added Kyle Samani, a former Multicoin Capital executive, to its U.S. board. No timeline was given for expanding its U.S. stock services. A launch date, the first added symbols, and any SEC designation of Backpack under the exemption are the concrete markers that would show how the 10,000-symbol plan progresses.