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3w ago

Jupiter and Ethena to Launch Solana-Native Stablecoin JupUSD in Q4 2025

It will launch fully collateralized by USDtb tied to tokenized U.S. Treasuries, signaling Jupiter’s move to consolidate roughly $750 million in liquidity under a native dollar.

Jupiter partners with Ethena to launch JupUSD stablecoin on Solana
Jupiter (Kamran Abdullayev/Unsplash/Modified by CoinDesk)
Ethena partners with Jupiter to launch Solana stablecoin JupUSD
Jupusd: ethena and jupiter team up to expand solana’s stablecoin market

Overview

  • Jupiter and Ethena are building Solana-native mint and redemption contracts for JupUSD, with multiple security audits slated before the Q4 rollout.
  • At launch the stablecoin will be backed 1:1 by Ethena’s USDtb, a token tied to short‑term U.S. Treasuries via BlackRock’s BUIDL and Anchorage.
  • JupUSD will be integrated across Jupiter’s stack as collateral for perpetuals, liquidity for lending, and a base trading pair on Swap, Pro and mobile, with pairings planned on Meteora.
  • Jupiter says it will gradually replace about $750 million of stablecoins in its Jupiter Liquidity Pool with JupUSD to seed depth and reduce reliance on third‑party dollars.
  • The teams plan to add Ethena’s synthetic USDe as secondary collateral after launch, while Jupiter’s scale (about $3.6 billion TVL) positions the coin to circulate widely in Solana DeFi.