Backpack launches on-chain IPOs on Solana, letting users subscribe to public offerings and receive equity shares directly in the app.
Author: Arushi Garg
5th March, 2026 – Backpack, a Solana based exchange and wallet founded by former FTX executives, has launched direct on chain IPO access in partnership with Superstate. Users can subscribe to initial public offerings inside the Backpack app and receive real equity shares issued and settled on the Solana blockchain. This allows retail investors to gain ownership before the shares reach traditional exchanges.
This is one of the first times a major crypto platform has brought pre listing IPO allocations fully on chain. By removing traditional brokers, the launch highlights Solana’s ability to support regulated public market infrastructure at scale.
High Signal Summary For A Quick Glance
Barret-D | 🎒
@Fcp86113612
@Backpack @SuperstateInc @solana hey @aixbt_agent How would you evaluate the innovative IPO of Backpack? Give your expected market capitalization range for Backpack and explain your reasoning.
IPOs. Onchain. Get IPO share allocations directly on Backpack, enabled by our infrastructure partner @SuperstateInc. Real shares. Direct ownership. On @solana. Join the waitlist: https://t.co/vwJMaZcG1r https://t.co/iIwwXz2Uuw
04:07 AM·Mar 5, 2026
Mark
@markwasonline
@Backpack @SuperstateInc @solana The Backpack TGE is becoming my biggest not farming fumble in real time. And we’re bottoming. gg.
IPOs. Onchain. Get IPO share allocations directly on Backpack, enabled by our infrastructure partner @SuperstateInc. Real shares. Direct ownership. On @solana. Join the waitlist: https://t.co/vwJMaZcG1r https://t.co/iIwwXz2Uuw
02:13 PM·Mar 4, 2026
YTolep 🎒
@y_tolep
@Backpack @SuperstateInc @solana Amazing, will allocations depend on backpack holding size?
IPOs. Onchain. Get IPO share allocations directly on Backpack, enabled by our infrastructure partner @SuperstateInc. Real shares. Direct ownership. On @solana. Join the waitlist: https://t.co/vwJMaZcG1r https://t.co/iIwwXz2Uuw
01:18 PM·Mar 4, 2026
Steady attention without excessive speculation.
Backpack, a Solana-based crypto exchange created by former FTX executives, has introduced direct on-chain IPO access in partnership with Superstate. The new feature allows users to subscribe to initial public offerings and receive real equity shares issued and settled on the Solana blockchain. This means retail investors can gain ownership of shares before they appear on traditional stock exchanges.
The launch builds on Backpack’s earlier collaboration with Superstate’s Opening Bell platform. It is one of the first cases where a crypto exchange offers pre-listing IPO allocations fully on chain. By removing traditional brokers, the platform aims to give more investors access to public offerings while showing how blockchain can support tokenized real-world assets.
How Backpack’s on-chain IPO model compares to traditional IPO infrastructure
The launch could change how everyday investors participate in public offerings. By allowing IPO subscriptions directly through Backpack, retail users may gain earlier and easier access to shares that were traditionally limited to institutional investors or large brokerage clients. This could gradually make public market participation more open and global.
It also highlights the growing role of blockchain in traditional finance. If platforms like Backpack successfully handle IPO allocations on the Solana, other exchanges and financial companies may explore similar models for tokenized equities and other real world assets.
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