Jupiter launches JupUSD and integrates stablecoin into the Solana ecosystem.

• JupUSD integrates Jupiter products with unified liquidity.
• BlackRock-backed stablecoin via Ethena's USDtb.
• Solana expands institutional use of stablecoins

Jupiter announced the launch of JupUSD, its native stablecoin developed in partnership with Ethena, marking a new stage in the consolidation of the Solana-based platform's ecosystem. The asset is launched as a white-label stablecoin by Ethena and will be primarily backed by BlackRock's Institutional Digital Liquidity Fund in tokenized USD, through USDtb.

According to the company, JupUSD will be immediately integrable across Jupiter's entire product suite, acting as the protocol's unit of account. The stablecoin is designed to support Jupiter's expansion beyond its origins as a DEX swap aggregator, encompassing spot and perpetual trading, lending, staking, tokenization, and prediction markets.

Among the initial integrations are Jupiter Lend, in which JupUSD deposits will generate the jlJupUSD reward token, and the Jupiter Perps JLP pool. In this case, there will be a gradual transition of USDC collateral and liquidity provider balances to unify dollar liquidity within the platform. Ethena reported that approximately $500 million in USDC currently allocated to Jupiter Perps LP will be converted to JupUSD.

The stablecoin will also be used for limit orders, dollar-based averaging tools, a single balance experience in the mobile app, collateral for perpetual contracts, and settlement in prediction markets. With this, Jupiter seeks to standardize the use of tokenized dollars across its various services.

JupUSD's backing will consist of USDtb and USDC, both pegged to the dollar, with Ethena responsible for managing daily reserve operations. USDtb, in turn, is backed by BlackRock's tokenized BUIDL fund. Initially, 90% of reserves will be allocated to USDtb, while Meteora will offer a secondary pool to increase liquidity.

“For integrated institutions and market makers, JupUSD offers 24/7 issuance in a single on-chain transaction against USDC, with published limits and clear capabilities for teams to plan flows.”

Jupiter said. The company further stated that redemptions will be available "whenever the on-chain USDC buffer is sufficient," focusing on continuous availability.

From Ethena's perspective, the launch reinforces its strategy of offering white-label B2B services.

“We expect JupUSD to be proof of how protocols that control the economy of their stablecoin integrations can: 1. Make products more efficient; 2. Increase the value returned to their ecosystem and their users.”

The company stated, "JupUSD represents Ethena's next big foray into Solana," expanding the platform's presence into new product areas. Co-founder Guy Young added that JupUSD represents Ethena's "next major foray into Solana," expanding the platform's presence into new product areas.