Backpack launches Solana-based on-chain IPO access

Solana wallet Backpack has launched a new service allowing users to access IPO allocations on-chain before shares begin trading on traditional stock exchanges.

The system settles transactions on the Solana blockchain and is designed to provide faster settlement and verifiable on-chain ownership of shares.

The service was developed in partnership with Superstate, which provides the technology to issue regulated equity as digital tokens representing real company shares.

Backpack founder and CEO Armani Ferrante said the platform aims to become part of the IPO roadshow process by giving companies direct access to crypto-native investors.

Access to IPO allocations will depend partly on user activity and community engagement, with users joining a waitlist to receive priority invitations for future offerings.

Participation will also depend on meeting regulatory requirements, as the service operates under a compliance-first framework and may restrict access in certain jurisdictions.

The launch reflects growing interest in tokenised securities, which aim to connect traditional equity markets with blockchain infrastructure and digital asset investors.

At the time of reporting, Solana price was $91.18.