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3h ago

Jupiter Partners With Ethena to Roll Out Solana-Native Stablecoin JupUSD in Q4

Initial USDtb collateral tied to BlackRock’s BUIDL will support a planned conversion of about $750 million from JLP.

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

  • JupUSD will integrate across Jupiter Perps as primary collateral, power Jupiter Lend liquidity, and serve trading on Swap, Pro, Mobile, and pairs on Meteora.
  • Jupiter plans to gradually replace roughly $750 million of stablecoins in the Jupiter Liquidity Pool with JupUSD to deepen on-chain liquidity on Solana.
  • At launch, JupUSD will be fully backed by Ethena’s USDtb, which holds tokenized U.S. Treasury exposure via BlackRock’s BUIDL and is managed with Anchorage Digital.
  • Solana-native mint and redeem contracts are in development with multiple security audits underway, targeting deployment in mid‑Q4 2025.
  • Ethena’s Stablecoin-as-a-Service stack powers issuance, with USDe expected to be added later as secondary collateral for yield optimization.