Elon Musk, the CEO of Tesla, is about to announce the IPO of one other of his corporations. SpaceX, simply hours earlier than the most important IPO in historical past, can be going reside on Solana.
Accordingly, following SpaceX’s preliminary itemizing on Nasdaq, it can start buying and selling as a inventory token referred to as SPCX and can be launched on Solana.
Based on CoinDesk, SpaceX plans to start buying and selling its shares as a inventory token on the Solana blockchain on the identical day it’s listed on Nasdaq.
The token, abbreviated as SPCX, can be launched by Dawn and Backpack Securities.
The information was introduced on the Backpack X cryptocurrency buying and selling platform account.
“SPCX is now reside on Solana by way of Dawn, following SpaceX’s preliminary itemizing on Nasdaq.”
Solana’s official X account additionally confirmed Backpack’s announcement, stating: “Every SPCX token is backed by precise SpaceX shares and may be redeemed 1:1 to your brokerage account by way of Backpack Securities. SPCX can be traded 24/7 on Solana by way of Dawn after Friday’s IPO.”
Based on the announcement, buying and selling on Solana can be potential 24/7 by way of private wallets, impartial of Nasdaq’s regular buying and selling hours. Customers can retailer the token of their private wallets or switch it to Solana-based buying and selling platforms. Traders may trade the token for shares and convert these shares again to tokens by Backpack’s brokerage platform.
*This isn’t funding recommendation.
