The tokenized version of Grindr stock, $GRND, reached $14.1 million in trading volume within two hours of its launch on September 10, 2026. This figure surpassed the trading volume of the actual Grindr stock on the New York Stock Exchange during the same period.
Backpack Securities, the brokerage arm of the Backpack exchange, facilitates the trading of these tokens. Each token is backed 1:1 by US shares held in regulated custody, utilizing ACATS and DTCC infrastructure for minting and redemption.
The platform operates 24/7 on Solana-based decentralized exchanges, removing traditional market hours. Backpack recently expanded its offering by adding over 20 new tokenized stocks to its platform.
The program allows users to track dividends and use equity tokens as collateral for perpetual contracts. The Sunrise liquidity protocol collaborated with Backpack to ensure sufficient market depth for the $GRND launch.
Cumulative volume for the tokenized equity program has reached hundreds of millions to billions since its inception in June 2026. The $SPCX token, representing SpaceX shares, was an early driver for the platform's adoption.
