Anatoly Yakovenko proposed a scenario where tokenized shares of Nvidia could be routed through Fartcoin to reach tokenized SpaceX (SPCX) using the Jupiter aggregator. He suggested that such a route could potentially set the reference price for all brokers in the United States.
The concept relies on Jupiter's ability to aggregate liquidity across numerous Solana venues. Because meme coin pools often possess the deepest liquidity on the network, the router may select a path through Fartcoin if it proves to be the most cost-effective for the trader.
This scenario relates to the National Best Bid and Offer (NBBO) benchmark, which US brokers must follow under SEC rule 611. Yakovenko's suggestion implies that a meme token could influence the pricing of tokenized stocks through this mechanism.
Tokenized stocks are already active on Solana, with Grayscale reporting weekly volumes near $3 billion. Ondo has integrated the SPCX token as collateral for leveraged trades since August.
Fartcoin currently trades at approximately $0.17 with a market capitalization of around $167 million. The asset has increased by roughly 44% over the last 90 days, though it remains 93% below its January 2025 peak.
The liquidity of meme coins also presents risks. On-chain analysts identified a coordinated manipulation attempt of Fartcoin in April, which resulted in a loss of $1.5 million for a Hyperliquid vault.
