The tokenized version of Powerus Corporation's stock recorded $8 million in trading volume within four hours of listing on Solana on October 2, 2026 — more than double the dollar volume the actual Nasdaq-listed share traded over the same window.

By the end of its first 24 hours, the $PUSA token had reached approximately $12 million in total reported volume, according to figures from the debut cited by the issuing platform. The tokenized stock went live through Backpack Securities on the Sunrise platform, one day after Powerus rang the Nasdaq opening bell on October 1, 2026.

How is the token structured?

Each $PUSA token is backed 1:1 by real Powerus common stock held in custody. Holders can redeem the token for the underlying share. That custody arrangement places the instrument in the same category as other tokenized equities issued on public blockchains, where the on-chain token functions as a transferable claim on an off-chain security rather than a native digital asset.

The operational difference is trading hours. Nasdaq keeps business hours. The Solana token trades continuously, including after the closing bell — a gap that now accounts for a majority of activity in this market segment. Solana's tokenized equities venues recently reported that 63% of trades occur after traditional market hours, across platforms including Backpack Securities and xStocks.

What kind of company is Powerus?

Powerus is a defense technology firm focused on autonomous drones and counter-drone systems. Its product lineup centers on US-built autonomous aerial and maritime platforms, plus technology designed to disable hostile unmanned aircraft.

The company reached public markets by completing a merger with Aureus Greenway Holdings Inc. on October 1, 2026. It now trades on the Nasdaq Capital Market under the ticker PUSA.

The listing followed two contract wins that frame its revenue picture:

• A defense purchase order worth approximately $2.5 million for FPV aircraft — first-person-view drones piloted through a live camera feed.
• A long-term US Air Force IDIQ contract for its Guardian-2 counter-drone system, with a ceiling of up to $90 million through mid-2028. IDIQ, or indefinite delivery/indefinite quantity, sets a maximum value rather than a guaranteed payout.

What does the debut signal for tokenized equities?

The PUSA launch did not arrive in an empty room. Tokenized equities on Solana have been building sustained volume through Backpack Securities and xStocks, and a day-one on-chain tape outpacing the primary listing venue marks a notable data point for the sector. For issuers, the result demonstrates that 24/7 access can concentrate liquidity in the wrapper rather than the exchange listing itself.

The comparison also raises custody and redemption questions that will matter as volumes grow. A 1:1 backed token is only as strong as the custody arrangement and the redemption mechanism behind it, and both will face operational stress as after-hours trading becomes the majority of activity.

With a $90 million contract ceiling running through mid-2028 and a tokenized wrapper already trading around the clock, Powerus offers an early test of whether dual-listed structures — exchange security plus on-chain twin — become standard practice for newly public defense and technology firms.