Solana’s Jupiter to Launch JupUSD Stablecoin Backed by Ethena Labs
- Jupiter, a Solana-based DEX, will introduce its stablecoin, JupUSD, by year's end.
- JupUSD will be integrated within Jupiter's ecosystem, including its perpetuals platform and lending markets.
- The stablecoin is developed with Ethana Labs, which has previously minted over $16 billion in stablecoins.
- JupUSD will be fully collateralized by Ethana Labs’ USDtb, backed by assets like BlackRock’s USD Institutional Digital Liquidity Fund.
- Plans include adding USDe as another backing asset to enhance yield potential.
- Smart contracts for minting and redeeming JupUSD are under development, with multiple audits planned before launch.
- Jupiter, noted for its significant offerings expansion, has $3.58 billion in total value locked, per DeFiLlama.
