Backpack Securities Expands Equity Collateral to All 17 Listed Stocks and ETFs

Backpack Backpack Securities announced on September 17 that all 17 stocks and ETFs with corresponding perpetual futures markets on the exchange can now be used as margin collateral, up from the four equities eligible at the platform's September 1 launch.

The full list of collateral-eligible assets covers the S&P 500 ETF (SPYx SPY), the Nasdaq-100 ETF (QQQx QQQ), Nvidia (NVDAx NVDA), Apple (AAPLx AAPL), Robinhood (HOODx HOOD), Circle (CRCLx CRCL), Tesla (TSLAx TSLA), Roundhill Memory ETF (DRAM), Alphabet (GOOGLx GOOGL), Meta (METAx META), Intel (INTCx INTC), Amazon (AMZNx AMZN), AMDx AMD, SK Hynix (SKHY), Micron (MUx MU), SanDisk (SNDK SNDK), and SpaceX (SPCX SPCX).

As of September 17, Solana Compass tracks 73,207 holders of the tokenized S&P 500 fund and 29,704 holders of SPCX on Solana, with SPCX trading $3.6M in volume in the past 24 hours.

How Equity Collateral Works Across Backpack's Unified Portfolio

Within Backpack's unified, cross-asset portfolio margin account, holders of these equities can borrow USD against their stock positions, trade perpetual futures, and trade spot markets on margin, all without segregating the equity holdings into a separate wallet or subaccount.

CEO Armani Ferrante outlined the three use cases and the structural logic behind the expansion:

The mechanism connecting perp markets to collateral eligibility is deliberate: a perpetual contract provides a continuous 24/7 price feed for the underlying equity, which lets Backpack mark collateral to market during weekend trading sessions when the underlying stock is not open. Under the policy Ferrante described, each new perp listing added going forward will automatically unlock the same collateral treatment for the underlying spot asset.

From Four to Seventeen: How the Collateral Set Grew

Backpack Securities launched on September 1 with perpetual futures for Micron, SanDisk, SPY, and QQQ, with those four equities also serving as the initial collateral set. Since that launch, the exchange has added 13 additional perp listings, including NVDA, TSLA, CRCL, and SPCX. Today's announcement brings all 17 into parity, extending collateral eligibility to the full set of equities with active perp markets on the exchange.

Geographic restrictions apply: the product is not available in the United States, the United Kingdom, the United Arab Emirates, Japan, or through Backpack EU.