Overview

• JupUSD will start fully collateralized by Ethena’s USDtb, which is tied to tokenized U.S. Treasury assets including BlackRock’s BUIDL fund, with USDe planned as secondary backing over time.
• The stablecoin will be issued via Ethena’s white‑label Stablecoin-as-a-Service stack, with Solana-native mint and redemption contracts under development and multiple security audits scheduled.
• Jupiter plans a gradual conversion of roughly $750 million in USDC from its Jupiter Liquidity Pool to provide initial JupUSD liquidity across its ecosystem.
• Integration is targeted across Jupiter’s perpetuals, lending markets, swap interfaces, and mobile and pro trading tools, positioning JupUSD as the base unit of account within the platform.
• The rollout comes as stablecoin supply tops $300 billion under a friendlier U.S. regulatory backdrop, with Jupiter leading Solana by total value locked at about $3.6 billion.