SpaceX (SPCX) is Now Available on Orca, through Sunrise
SPCX is now live on Solana, with liquidity on Orca. According to Sunrise, the token is a tokenized representation of SpaceX shares, issued by Backpack Securities and made available to Solana through Sunrise. It goes live as SpaceX shares begin trading on Nasdaq, and on Solana it trades around the clock.
Sunrise describes itself as the day one asset gateway of Solana. It enables new onchain assets, including crypto, stocks, commodities, and more, to list on Solana with liquidity from day one, giving users and builders immediate access to live, tradable markets.
As assets like SPCX arrive on Solana, Orca provides the on-chain liquidity infrastructure they trade through. Holders can swap SPCX and provide liquidity directly from a self-custodied wallet, with settlement clearing on-chain as each transaction confirms. Orca is glad to help bring deep liquidity infrastructure to support assets making this move.
What sets SPCX apart from earlier on-chain stock products comes down to what the token actually represents.
How SPCX Is Described by Sunrise and Backpack
Many on-chain stock products to-date track a share's price through a wrapper or derivative, but may not connect to the underlying equity or carry its rights. SPCX works differently. It is a tokenized representation of SpaceX shares issued by Backpack Securities, and it stays tied to the real share behind it.
Shares held through Backpack Securities run through traditional brokerage infrastructure; tokenized SPCX reflects them through on-chain programmability.
This portability is what separates SPCX from earlier on-chain equity products. SPCX is designed to provide tokenized exposure to underlying SpaceX shares and to enable movement between tokenized and traditional environments. On Solana, SPCX can be traded through onchain liquidity infrastructure beyond the hours of any single exchange.
What Changes for Orca's Users?
Nothing. SPCX can be traded and liquidity can be provided through self-custodied wallets using Orca’s on-chain liquidity infrastructure. There is no new flow to learn and no separate process to follow.
What makes SPCX distinct lives in the token itself, not in how it trades. At any time, a holder can redeem their SPCX for the underlying SpaceX share through Backpack Securities. The trading and liquidity experience on Orca remains the same. SPCX is available on Orca around the clock.
More Assets Are Moving On-chain to Orca
SPCX is among the first assets of its kind to reach Solana, and it points to where markets are heading. As tokenized representations of real-world assets come on-chain, they need somewhere to trade with real depth. That is the standard Orca is proud to provide.
On-chain liquidity is what lets an asset like SPCX trade continuously, settle as each block confirms, and stay accessible from a self-custodied wallet around the clock. Orca expands the on-chain infrastructure that assets making this move can flow through, and SPCX trading live on Solana is an early example of what that opens up.
SPCX liquidity is live on Orca to explore today.
Disclaimer
This post is for informational purposes only and does not constitute financial, investment, legal, or tax advice. Orca does not endorse SPCX, Backpack Securities, Sunrise, and makes no representations regarding the suitability, legality, or value of any token. SPCX is issued by Backpack Securities; Orca provides on-chain liquidity infrastructure. Participation in liquidity pools involves risk, including impermanent loss and smart contract risk. Nothing in this post should be construed as an offer or solicitation to buy or sell any financial instrument.
