When Wall Street APIs become available, even a 5-person team can build a Robinhood-style app... Backpack CEO

Backpack CEO Armani Ferrante said that if Wall Street’s financial infrastructure were exposed through developer-facing APIs, a five-person team could build a Robinhood-style ($HOOD) service, arguing such products are nearly impossible under the current financial system. He said reimplementing traditional financial products as smart contracts could cut operating costs and fees, citing an ETF similar to the SP500-tracking SPY as an example. The remarks position API access to Wall Street infrastructure as a catalyst for more experimentation in programmable finance. The article did not disclose token prices, total value locked, trading volumes, market capitalization or funding figures. What to watch next is whether major financial institutions open their infrastructure to developers and whether on-chain versions of traditional products gain traction.