Jupiter rolls out native JupUSD stablecoin backed 90% by BlackRock and Ethena’s USDtb
Jupiter launched its native JupUSD stablecoin, partnered with Ethena, which is initially backed 90% by Ethena's USDtb.Summary
Solana infrastructure provider Jupiter has launched its native stablecoin, JupUSD, in collaboration with Ethena Labs. This stablecoin is a core component of Jupiter's expanding "superapp" ecosystem, which now includes spot and perps trading, lending, and staking, moving beyond its origins as a DEX aggregator. JupUSD will be immediately composable across Jupiter's suite, serving as the protocol's unit of account, powering features like limit orders and dollar-cost averaging, and unifying liquidity in products like Jupiter Perps.
The stablecoin is backed by USDtb and USDC, with Ethena managing reserve operations. Initially, 90% of reserves will be held in USDtb, which is itself backed by BlackRock's tokenized USD Institutional Digital Liquidity Fund (BUIDL). Jupiter plans to introduce additional backing assets, including Ethena's USDe, in the future. This launch is also a significant milestone for Ethena's B2B "whitelabel" service, demonstrating how protocols can leverage Ethena's infrastructure to launch their own native stablecoins efficiently.
(Source：The Block)