Sunrise launches tokenized SanDisk stock $SNDK on Solana
RWA Signal Insight
StocksBackpack Securities and Sunrise have launched the third tokenized US equity, $SNDK, on the Solana blockchain. This asset represents real SanDisk shares, allowing for 1:1 redemption and transferability to traditional brokerage accounts. Unlike synthetic derivatives, these tokens provide direct equity exposure and are currently trading on decentralized exchanges Jupiter and Raydium. The launch follows previous tokenized offerings of SpaceX and Micron Technology, continuing the partnership's goal of bridging real-world assets with blockchain infrastructure. By enabling 24/7 trading, the platform removes the time constraints of traditional Nasdaq market hours. While the regulated status of Backpack Securities provides a compliance framework, the availability of 10x leverage on these tokens introduces significant volatility risks. This development highlights the growing trend of integrating regulated securities into DeFi ecosystems to enhance liquidity and accessibility for retail investors. The ongoing collaboration between Sunrise and Backpack continues to test the boundaries of regulatory scrutiny regarding tokenized securities and decentralized leverage products.
Key points
- $SNDK tokens are 1:1 backed by real SanDisk equity and trade on Solana.
- Backpack Securities, a regulated US brokerage, issued the token for 24/7 DEX trading.
- This is the third equity token from the Sunrise and Backpack partnership pipeline.
- Platforms are offering up to 10x leverage on the newly launched $SNDK tokens.
Background
Sunrise is an asset gateway developed by Wormhole Labs, launched in November 2025 to bridge real-world assets to Solana's trading infrastructure. Backpack Securities operates as a regulated US brokerage that facilitates the issuance and compliance of these tokenized equities.