Backpack Adds Micron, SanDisk Shares as Margin Collateral

Backpack allows users to post Micron and SanDisk shares as collateral in a unified portfolio-margin account that includes stocks, crypto, and other instruments. This expands the use of equities on its platform beyond mere buying and selling. Stock holdings can now support U.S. dollar borrowing, futures trades, and spot margin. Additionally, Backpack introduced 24/7 perpetual futures for MU, SNDK, SPY, and QQQ. For users holding these shares, they can now contribute collateral within the same cross-asset account. Previously, Backpack offered international investors the ability to buy, hold, and sell selected U.S. equities, including Micron and SanDisk, around the clock. Investors retain full ownership of traded U.S. shares and can bridge traditional securities with tokenized representations on Solana on a one-to-one basis. The current offering is limited to two equity collateral assets and four perpetual markets, with more to be announced in the future.

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