Stock pairs
What exists on Solana
xStocks, issued by Backed Finance, are tokenized stocks and ETFs that live on Solana as ordinary SPL tokens, each backed 1:1 by a share at a regulated custodian. They launched on June 30, 2025 with 60 or more assets, including Nvidia (NVDAx) and Amazon (AMZNx). They are offered to non-US persons only. Verified at the level of launch announcements; the current list and the exact ticker set (for example a Tesla token) must be checked against the live xStocks listing.
On Robinhood Chain the stock tokens are Robinhood's own. They are not the same assets and there is no bridge between the two ecosystems in this design.
Status. Paying with a stock token has no special support. The token page links to the Jupiter swap app, which may find a route from a stock token through SOL to your token if it has found the pool. A second pool paired with a stock token is not built, on purpose: every way of doing it either weakens the permanent lock or puts part of the supply outside the pool.
Two different things people mean by "stock pair"
1. Pay with a stock
A buyer holds NVDAx and wants your token. They do not need a dedicated pool. Jupiter may find a route such as NVDAx → SOL → TOKEN across existing pools and execute it as one swap, if it has found your pool and NVDAx has a pool against SOL or USDC with enough depth. Designed, untested. Nobody has tried this route against a Latch pool.
Latch does not do the routing itself. The token page links to the Jupiter swap app, and Latch's own trading panel buys and sells with SOL only: there is no token selector for paying with something else. No on-chain feature is needed for this.
2. A pool whose quote asset is a stock
This is the harder case. The pool TOKEN / NVDAx prices your token in shares of Nvidia. Fees are then earned partly in NVDAx, and the token's chart is denominated in NVDAx.
Why "switch the pair" is not a toggle
The launch position is permanently locked. That is the guarantee that liquidity cannot be removed, and the same guarantee means it cannot be migrated to a new pair. A pool's two assets are fixed when it is created. So Latch does not offer an in-place switch. Options:
| Option | How | Cost |
|---|---|---|
| Reserve tranche | At launch, hold back a share of supply (for example 5 to 10 percent) in the vault. Later, the creator can seed a second single-sided pool TOKEN / NVDAx from it, also locked. |
Reduces what the main pool holds. Needs a visible rule for when it can be released. |
| Fee-funded | The creator uses claimed fees (SOL and token) to swap into NVDAx and seed a pool. | Slow, and the creator pays the price impact. |
| Vesting lock instead of permanent | Use DAMM v2 lock_position with a vesting schedule rather than permanent_lock_position. Liquidity can be moved after it vests. |
Weakens the "cannot be pulled" guarantee, so buyers must be told the date. |
A reserve tranche would also mean part of the supply is not in the pool at launch, which breaks the promise that the whole supply is. It is not built, and we decided against it for now: it would need an on-chain release rule before it could be offered, and the promise that the whole supply is in the pool is worth more.
Compliance
Pairing a token against securities-linked assets and offering it to the public raises questions that engineering does not answer. The xStocks restriction on US persons is the minimum. A real deployment needs legal review, geoblocking decisions and a clear statement of what Latch does and does not offer. Nothing in this page is legal advice.
Liquidity reality check
Stock tokens on Solana have much thinner on-chain liquidity than SOL. A pool against NVDAx will have wide effective spreads and large price impact for modest trades, and pools against thin quote assets are easier to manipulate. Show the quote asset's own depth next to the token's before a creator selects it.