Backpack exchange adds Micron and SanDisk shares as margin collateral
Backpack, a crypto and equities exchange, now allows users to post shares of Micron (MU) and SanDisk (SNDK) as collateral in a single portfolio-margin account. This account supports stocks, crypto, and other assets, expanding how equities can be used beyond just buying and selling.
The exchange also launched 24/7 perpetual futures for MU, SNDK, SPY, and QQQ. Perpetual futures are contracts without an expiry date, letting traders bet on price movements.
How the new system works
Users holding Micron or SanDisk shares can now use them to back U.S. dollar borrowing, futures trades, and spot margin within the same cross-asset account. Backpack had already let international investors trade selected real U.S. equities, including these two, around the clock.
Previously, Backpack said investors fully own the U.S. shares they trade and can convert them one-to-one into tokenized versions on the Solana blockchain, a system for recording transactions.
What is confirmed
- Micron (MU) and SanDisk (SNDK) shares can now be used as collateral.
- 24/7 perpetual futures for MU, SNDK, SPY, and QQQ are now available.
- Collateral supports borrowing, futures, and margin trading in a unified account.
- Backpack plans to add more assets but has not given a timeline.
What is still unclear
Backpack’s announcement did not specify key collateral and liquidation terms for the new offerings.
