Press Enter to search · ESC to close

RWA Crypto

Sunrise Restores Backpack Tokenized Meta Shares on Solana

Sunrise has reintroduced Backpack’s tokenized Meta shares to the Solana network, allowing holders to trade the tokenized equity on-chain again. Redemption of the tokens requires an eligible, verified Backpack account, and transfers from Backpack to another brokerage are not yet supported.

Original source

AI take

The return of tokenized Meta shares on Solana matters less as a trading event than as a test of how tokenized equities actually work: on-chain transferability is restored, but redemption still runs through a verified Backpack account and brokerage transfers remain unsupported. That asymmetry keeps the product dependent on a single venue's rails, which is the structural constraint the sector keeps running into. The open question is whether the account-gated redemption and missing brokerage portability get addressed, since without them on-chain trading is the easy half of the proposition.

Generated by AI for reference only.

Share

Related News

TREE NEWS share card
Long-press image above → Save to Photos / Share
Pitch us Feedback