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2h ago

Jupiter to Launch Solana-Native Stablecoin JupUSD With Ethana’s USDtb by Year-End

Initial collateral comes from Ethana’s USDtb, with audits planned before rollout.

Jupiter (Kamran Abdullayev/Unsplash/Modified by CoinDesk)
Ethena partners with Jupiter to launch Solana stablecoin JupUSD

Overview

  • Jupiter says JupUSD will be native to Solana and integrated across its perpetuals, lending markets, and trading interfaces.
  • The stablecoin will start fully collateralized by Ethana Labs’ USDtb, which is backed by treasury funds including BlackRock’s BUIDL.
  • Jupiter plans to introduce USDe as a secondary backing asset after launch to enhance yield potential.
  • Minting and redemption smart contracts are in development, with multiple security audits expected ahead of the release.
  • Jupiter reports $3.58 billion in total value locked, leading Solana by TVL according to DeFiLlama.