Solana’s Jupiter Advances JupUSD Stablecoin Amid Ecosystem Growth

Native Stablecoin Launch Anchored by Ethena Labs

Solana-based decentralized exchange aggregator Jupiter is preparing to roll out its own stablecoin, JupUSD, in partnership with Ethena Labs. The new token is designed to be native to the Solana network and fully integrated across Jupiter’s ecosystem—including its perpetuals platform, lending markets, and trading interfaces.

JupUSD will initially be backed by Ethena’s USDtb, a treasury-backed stablecoin tied to funds such as BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). Over time, Ethena’s USDe will also be added as a secondary backing asset to enhance yield and utility.

Ecosystem Scale-Up as JupUSD Prepares for Launch

Jupiter currently reports significant traction in Solana’s DeFi environment. The platform announced plans to convert approximately $750 million of its USDC liquidity pool into JupUSD, highlighting how the stablecoin could serve as a core fiscal layer for its on-chain infrastructure.

With smart contracts for minting and redemption under development and multiple security audits planned, the rollout is scheduled for the fourth quarter of 2025. This places Jupiter and its native stablecoin offering in direct competition with other protocol-issued stablecoins in the DeFi landscape.

Jupiter’s Total Value Locked (TVL) remains noteworthy, cementing its leadership position within Solana’s ecosystem. The launch of JupUSD adds a new dimension to Jupiter’s growth, as it moves from aggregator toward full ecosystem provider. Given the scale of backing and integration, the launch of JupUSD may mark a pivotal step in how Solana handles stablecoins and liquidity at scale.

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