Strategy
MSTR/USDTOKEN-2022- MSTR is issued by Backpack Securities. It tracks MSTR but doesn't make you a shareholder: no voting rights, and your claim is defined by the issuer's terms.
- The token trades 24/7 while MSTR keeps exchange hours, so its price can drift from the reference outside market hours.
- Onchain, the issuer can move or burn tokens from any wallet (permanent delegate), freeze accounts, pause all transfers.
- Not available in: US.
Signed trades are final. Not investment advice.
Issuer controls (authorities, delegate, pause) are normal for regulated tokens but let the issuer act on balances. See Risks.
About Strategy
Strategy (MSTR) — shares. This token is issued by Backpack Securities and tracks the economic value of the underlying security.
- Underlying
- Strategy
- Underlying ticker
- MSTR
Token vs. underlying
About the issuer
Backpack Securities issues tokenized securities on Solana, distributed through Sunrise, Wormhole's asset gateway. Per Backpack, each tokenized security is a claim on an SPV holding the underlying asset and can be redeemed 1:1 into the corresponding security entitlement through Backpack Securities.
Tokenized asset
- Token
- Strategy - Backpack Securities (MSTR)
- Issuer
- Backpack Securities
- Blockchain
- Solana
- Mint address
MSTRdWXMeZxdE8osAQy3fA4rvTY5rgummDSMEx6U7Nz- Token standard
- SPL Token-2022
- Decimals
- 6
- Token extensions
- Metadata pointerPermanent delegateDefault account statePausableConfidential transfersTransfer hookScaled UI amountToken metadata
- Issuer controls
- Permanent delegate (can transfer or burn from any account), freeze authority, pause authority. Read from the onchain mint account.
- Structure
- Tokenized security issued by Backpack. Per Backpack, the token is a claim on an SPV holding the underlying assets (not a UCC Article 8 security entitlement), with price exposure anchored 1:1 via the mint and redemption mechanism.
- Backing
- Per Backpack, the SPV holds the underlying assets and each token is redeemable 1:1 for the underlying security.
- Issuance & redemption
- Per Backpack, tokens can be redeemed 1:1 into the corresponding security entitlement through Backpack Securities, which is available to eligible users only.
- Dividends & splits
- Per Backpack, dividend payouts are automatically reinvested into additional tokenized shares, and applicable corporate actions are reflected through proportional token balance adjustments.
- Liquidity
- Deepest pool: raydium · USDC · $303.89K. Total routable liquidity $317.71K. A $10k test buy had -1.74% price impact.Snapshot from 2026-09-23. The platform only lists assets with at least $50k of liquidity.
- Explorer
- View on Solscan
- Verification
- Mint verified on 2026-09-23 against Sunrise token listing API and Onchain mint account. Verification details →
Important information
- Geographic restrictions
Per Backpack, Backpack Securities isn't available in the United States, the United Kingdom, the United Arab Emirates, or Japan, and isn't offered on Backpack EU. The Sunrise listing blocks this token in: United States.
- Market & pricing
Secondary-market prices on Solana are set by onchain liquidity and can differ from the underlying's exchange price, especially outside the underlying market's trading hours.
- Not the underlying
MSTR is a token issued by a third party. Its price is set by onchain markets and is not automatically identical to the price of MSTR.
- Execution
Swaps are routed across Solana liquidity venues for the best available price. The platform does not custody funds or act as a counterparty.
Information on this page is sourced from issuer documentation and onchain data. It is not investment, legal or tax advice. Review the issuer's terms before trading.