Pump.fun adds stocks as trading pair for token launch

Memecoin platform Pump.fun is expanding its offering with tokenised stocks as a trading pair for new tokens. In addition to Solana and USDC, token creators can now also use digital versions of stocks such as Tesla, NVIDIA, Circle, Nasdaq, the S&P 500, Micron Technology and SK Hynix. In doing so, the platform brings the stock market to the blockchain.

In short:

• Pump.fun now lets token creators choose from tokenised stocks as a trading pair when launching a token.
• Backpack Securities has joined as a partner, bringing the total number of available trading pairs to 93.
• Available pairs include those based on Tesla ($84.30M), Circle ($75.87M) and NVIDIA ($71.91M).

Stocks as the basis for new tokens

Pump.fun is known as the platform where almost anyone can launch a memecoin on Solana at lightning speed. Until now, creators could choose between SOL and USDC as the trading pair for their token. With the new Custom Pairs feature, tokenised stocks have now been added.

Available options include digital versions of Tesla, NVIDIA, Circle, the Nasdaq, the S&P 500, Micron Technology and SK Hynix. Anyone launching a token can thus use a stock as a reference asset instead of a cryptocurrency.

Backpack Securities expands offering to 93 pairs

Shortly after the introduction of Custom Pairs, Backpack Securities announced that it would join the platform as a partner. The company offers tokenised US stocks that are now also available as a trading pair on Pump.fun.

With the addition of Backpack Securities and xStocks, 93 trading pairs are now available. The tokenised Tesla pairs currently have the highest value in circulation, at $84.30 million, followed by Circle with $75.87 million and NVIDIA with $71.91 million.

Liquidity varies widely from pair to pair. Tesla has the lowest liquidity of the options mentioned, at $835.870, while Micron Technology scores relatively high with $2.94 million in available liquidity. SK Hynix is a special case: its liquidity of $2.16 million is higher than its total market value of $2.11 million, which points to a limited but active market.