Pump.fun Lets Creators Launch Coins Priced In Tokenized Stocks

Pump.fun announced that creators can now launch tokens paired with a broader set of quote assets, not just SOL and USDC, through a feature it calls Custom Pairs. The platform listed 93 supported pairs at launch, including tokenized equities such as Nvidia and Tesla, index tokens for the S&P 500 and Nasdaq-100, and wrapped bitcoin and ether. The change is available in Pump.fun’s create form and was live as of Wednesday afternoon.

The company said bonding curve and PumpSwap protocol fees for Custom Pairs remain the same as standard launches, and that half of revenue generated by these pairs will be automatically applied to a PUMP buyback-and-burn contract. Pump.fun previously reported burning around $370 million of bought-back PUMP by April (about 36% of circulating supply) and later said buybacks had topped $400 million; the platform committed to route half its revenue to buybacks for one year.

Twenty of the new quote assets are tokenized U.S. stocks issued via Backpack Securities and surfaced on Solana by Sunrise using Wormhole’s Native Token Transfers framework. Pump.fun named the 20 stocks as Boeing, Alibaba, Webull, Costco, Dell, Trump Media, Hims & Hers, IBM, Johnson & Johnson, Lockheed Martin, Lululemon, MGM Resorts, Pfizer, Quantum Computing Inc., Roblox, Reddit, Rivian, Shopify, Snap and UPS. Across Sunrise and Backed Finance’s xStocks line, Pump.fun counts 93 supported pairs in total.

Liquidity on the new quote assets is thinner than for SOL or USDC pairs. At about 4:50 p.m. ET Pump.fun’s pair selector showed Wrapped ETH with roughly $3.07 million in reserves, Backpack’s Micron token at $2.94 million and SK Hynix at $2.16 million. The S&P 500 xStock held about $1.35 million, Nvidia $1.13 million, Tesla $836,210 and Wrapped BTC $607,490. Creators’ fee rewards on Custom Pairs are paid in the quote asset (for example, rewards in tokenized Nvidia when the pair is NVDA-denominated), and the platform’s FAQ lists a creator fee range of 0.05% to 1% while the create form accepts inputs from 0.01% to 1%.

Pump.fun notes that its platform does not itself offer the purchase or sale of securities and that tokenized pairs are issued by third parties that control the rights associated with the underlying assets. The site also says it does not provide services to UK residents. Early Custom Pair pools opened quoted against Wrapped BTC, and previously memecoins quoted in tokenized stocks had been launched on other Solana venues such as Raydium.