Ethena Labs, Jupiter to Launch JupUSD Stablecoin on Solana
Ethena Labs and Jupiter announced the upcoming launch of JupUSD, a Solana-native stablecoin supported by USDtb. It is expected to be released between late 2025 and early 2026, integrating with Ethena's stablecoin-as-a-service product.
- JupUSD will integrate into the Jupiter ecosystem, impacting major components like Jupiter Perps.
- The crypto community has shown positive responses, highlighting reduced blockchain friction.
- Executives predict significant growth in the stablecoin market, emphasizing the strength of the Jupiter product suite.
Stablecoins' Popularity and Market Growth
- Stablecoins have seen growing popularity in 2025, aided by laws like the GENIUS Act in the US.
- Ethena's USDe recently reached a $14.95 billion market cap, as reported by DefiLlama.
- Total stablecoin market capitalization exceeded $300 billion, reaching $313.6 billion by October 8.
- USDe accounts for about 5% of this total, while Tether's USDT holds 58% at $178 billion, and USDC constitutes 25% at $75 billion.