Ferrari tokenized stock RACE launched on Solana

Ferrari NV tokenized stock RACE has been launched on Solana through the Sunrise Asset Gateway, with Backpack Securities acting as the issuer. Each RACE is backed 1:1 by a share of actual Ferrari stock held in regulated custody, and holders can redeem it for traditional stock equity through Backpack Securities.

The token supports trading venues such as Phantom, Jupiter, and Raydium, offering round-the-clock trading and participation in dividends and corporate actions. Backpack plans to expand the number of tokenized stock codes on Solana from about 200 to 10,000.