"could stand for" is a correct and usable phrase in written English.
It is used when you are suggesting a possible interpretation for something. For example, "UN could stand for the United Nations."
"Standing tantalisingly in front of him is the chance to set a record that could stand for ever," Carragher said.
What color could stand for those ideas?
The eventual record could stand for decades.
Mr. Spratlan's treatment of the final "Amen" could stand for the work as a whole.
George could stand for the best of the English radical tradition.
(The title of one of them, "Vengeance Is Mine Inc.," could stand for many).
These could stand for the name of a commodity and its owner.
Only approved colors could stand for The Character of Little Italy.
Now, Bartholdi's statue could stand for both the French and the American republics.
In his mind it could stand for "ballistic long-range trajectory" missiles, or something.
They could stand for the energy and directness that is sapped from middle-class life.
