Backpack Adds US Stock Collateral, New Perpetuals

Backpack's move to accept US equities as collateral blurs the line between traditional finance and crypto margin trading, potentially attracting traders seeking diversified collateral. The addition of MU and SNDK perpetuals signals a focus on tech-stock volatility. Whether this integration draws meaningful liquidity or remains a niche offering is the key question, as regulatory and settlement complexities could temper adoption.