Backpack CEO Says Goal Is to Bring Entire Stock Market On-Chain on Solana
Bloomingbit Newsroom
Summary
- Solana-based decentralized exchange Backpack (BP) said it aims to bring the entire stock market on-chain on Solana.
- Backpack's CEO said the company wants to bring the entire stock market to Solana, allowing real stocks to move freely between brokerage accounts and decentralized finance (DeFi) through a single API.
- Backpack added that its next goal is to expand the number of stocks offered to 10,000 from the current 200.
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Backpack, a Solana-based decentralized exchange, said it aims to bring the entire stock market on-chain on Solana.
On September 26, Backpack Chief Executive Officer Armani Ferrante said the goal is not to offer 10 or 100 stocks, but to bring the entire stock market to Solana. He said the company wants to enable real stocks to move freely between brokerage accounts and decentralized finance through a single application programming interface, or API.
Backpack's next goal is to expand the number of stocks offered to 10,000 from the current 200, he added.
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