Solana-based decentralized exchange Jupiter is preparing to launch its own stablecoin, JupUSD, before the end of the year. The new token will be native to the Solana blockchain and fully integrated across Jupiter’s growing ecosystem, including its perpetuals trading platform, lending markets, and trading interfaces, according to an announcement made on X (formerly Twitter).
JupUSD is being developed in collaboration with Ethana Labs, a firm recognized for minting over $16 billion in stablecoins through previous projects. The upcoming stablecoin will be fully collateralized by Ethana Labs’ USDtb, a digital asset backed by traditional financial instruments such as BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). Jupiter also plans to incorporate USDe as a secondary backing asset, aiming to enhance yield opportunities for users.
The team revealed that smart contracts enabling the minting and redemption of JupUSD are already under development, with multiple security audits scheduled prior to launch to ensure robustness and transparency. This move signals Jupiter’s ambition to expand its DeFi footprint beyond exchange aggregation and into broader financial infrastructure on Solana.
Jupiter has emerged as a dominant player in the Solana ecosystem, boasting a total value locked (TVL) of approximately $3.58 billion, according to data from DeFiLlama. The platform initially launched as a DEX aggregator but has since evolved into a comprehensive DeFi hub offering various yield-generating and trading solutions.
With JupUSD, Jupiter is positioning itself to compete directly with established stablecoins while deepening user engagement within its own ecosystem. The launch marks a significant step in strengthening Solana’s decentralized finance landscape and advancing the adoption of blockchain-native financial assets.
