Jupiter Announces JupUSD Stablecoin on Solana With Ethena Labs Partnership

Solana's leading decentralized exchange Jupiter is launching its native stablecoin JupUSD by year-end. The stablecoin will be fully integrated across Jupiter's ecosystem including perpetual trading, lending markets, and trading interfaces. Developed in collaboration with Ethena Labs, which has minted over $16 billion in stablecoins, JupUSD will be fully collateralized by Ethena's USDtb stablecoin backed by treasury assets including BlackRock's BUIDL fund. The team plans to incorporate USDe as secondary collateral to enhance yield generation. Smart contracts for minting and redeeming JupUSD are under development with multiple security audits scheduled before launch. Jupiter currently leads Solana with $3.58 billion in total value locked according to DeFiLlama data.