Cryptocurrency exchange Backpack is launching a new securities platform, 'Backpack Securities,' which combines traditional stock trading and tokenized stock trading into one.

According to crypto media outlet The Block, users will be able to buy and sell actual U.S. stocks through Backpack Securities on a regulated securities brokerage infrastructure. Additionally, it will be possible to convert their held stock assets into tokenized versions that can be freely transferred on a blockchain network.

To implement this service, Backpack has partnered with Sunrise, a Solana-based tokenization protocol. The securities platform service is scheduled to be rolled out sequentially starting this June.