#Sunrise

Sunrise launches tokenized SanDisk stock $SNDK on Solana

Backpack 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.

cryptobriefing.com·Jun 27