Solana’s Jupiter Partners with Ethena Labs to Launch JupUSD Stablecoin

Jupiter, one of Solana’s most prominent decentralized exchange (DEX) aggregators, is venturing into the stablecoin space with the planned launch of JupUSD, a new Solana-native digital dollar set to debut by the end of the year.

The stablecoin will be developed in collaboration with Ethena Labs, a leading blockchain firm recognized for minting over $16 billion in stablecoins through its existing projects. According to Jupiter, JupUSD will initially be fully collateralized by Ethena’s USDtb, a stablecoin backed by institutional-grade assets such as BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL).

Boosting Yield and Network Utility
The partnership aims to strengthen Solana’s DeFi ecosystem by introducing a yield-generating stablecoin that can circulate natively across Jupiter’s products and the broader network. Beyond USDtb, the team also plans to integrate USDe as a secondary collateral asset, potentially enhancing yield opportunities and liquidity depth for users.

Building a Secure Framework
Jupiter revealed that it is currently developing smart contracts to power the minting and redemption processes for JupUSD. These contracts will undergo multiple security audits before the token’s official rollout—a move that reflects growing industry scrutiny on stablecoin safety and transparency.

Expanding Solana’s DeFi Dominance
Jupiter has rapidly become a cornerstone of Solana’s decentralized finance landscape, boasting over $3.5 billion in total value locked (TVL), according to data from DeFiLlama. The introduction of a native stablecoin could further cement its leadership by offering seamless on-chain liquidity and improved stability for trading, lending, and staking activities.

If successful, JupUSD could position Jupiter as a key player in the next phase of Solana’s ecosystem growth—bridging liquidity, stability, and innovation across decentralized finance.

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