Solana’s leading decentralized exchange, Jupiter, has announced plans to launch its native stablecoin, JupUSD, before the end of the year. The upcoming token will be deeply embedded across Jupiter’s ecosystem—powering its perpetual trading platform, lending services, and broader DeFi tools, according to a post shared on X this Wednesday.
The project is being developed in partnership with Ethena Labs, the team behind over $16 billion in stablecoin issuance. JupUSD will derive its stability from Ethena Labs’ USDtb, a fully collateralized stablecoin supported by treasury assets, including BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL).
This collaboration marks a significant step toward expanding Solana’s decentralized finance infrastructure with a robust, institutionally backed stable asset.
Expanding Stability and Yield: Jupiter Prepares JupUSD Launch With Multi-Asset Backing
The team also intends to introduce USDe as an additional collateral asset to enhance the stablecoin’s yield potential.
According to Jupiter, smart contracts enabling the minting and redemption of JupUSD are currently under development, with several independent audits scheduled prior to the official launch.
Originally known as a decentralized exchange aggregator on Solana, Jupiter has since broadened its scope of services. The platform now holds approximately $3.58 billion in total value locked (TVL), based on data from DeFiLlama, positioning it as Solana’s largest DeFi protocol.
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