Backpack, a crypto exchange, now allows users to post shares of Micron and SanDisk as collateral in a unified portfolio-margin account that spans stocks, crypto, and other instruments. The move expands the role of equities on the platform beyond buying and selling, letting stock holdings support U.S. dollar borrowing or margin.
Stocks as collateral
The exchange said stock holdings can now be used to support U.S. dollar positions, likely as collateral for borrowing or margin. This is a new capability for the platform, which previously treated equities only as tradeable assets. Users can now pledge their Micron and SanDisk shares to back other positions in the same account.
A unified margin account
The unified portfolio-margin account is designed to hold multiple asset classes in one place. That means a trader's crypto positions and stock positions are managed together, and the value of one can support the other. This is a step toward a more integrated trading experience, where traditional equities and digital assets sit side by side.
What the exchange said
Backpack stated that stock holdings can support U.S. dollar, likely as collateral for borrowing or margin. The company didn't provide further details on margin rates or borrowing terms, but the feature is now live on the platform.
The move gives traders more flexibility in how they use their assets. Instead of selling shares to free up cash for crypto trades, they can now use those shares as collateral. It also signals that Backpack is looking to bridge the gap between traditional finance and crypto, offering a single account for both.
