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Ferrari Tokenized Shares Launch on Solana via Backpack Securities
On October 6, 2026, tokenized shares of Ferrari NV, trading under the symbol $RACE, became available on the Solana blockchain through the Sunrise asset gateway. The shares are issued by Backpack Securities and are backed 1:1 by actual Ferrari shares held in regulated custody, allowing investors to own a fraction of the luxury car manufacturer without the traditional barriers of high costs and waiting lists.
The $RACE tokens can be traded around the clock on various decentralized exchanges (DEXs) such as Phantom, Jupiter, and Raydium. This launch adds Ferrari to a growing list of on-chain equities, which Backpack Securities aims to expand significantly from the current 200 tokenized stock symbols to a target of 10,000.
Investors can redeem their $RACE tokens for traditional stock entitlements through Backpack Securities, which is crucial for maintaining confidence in the token's 1:1 backing. The trading of these tokens raises questions about liquidity and price alignment with the underlying shares, especially during periods when traditional markets are closed. Additionally, the process for distributing dividends and corporate actions to token holders will be closely monitored as the market evolves.
Source: KLEA News