EddieJayonCrypto

 8 Oct 25

tl;dr

Solana's Jupiter launches JupUSD, a stablecoin backed by BlackRock's reserves and Ethana Labs' infrastructure, aiming to revolutionize DeFi liquidity and adoption on the blockchain.

**Jupiter Launches JupUSD: Solana’s New Stablecoin Aims to Strengthen DeFi Ecosystem** Solana-based decentralized exchange (DEX) aggregator Jupiter is set to introduce its native stablecoin, **JupUSD**, by the end of 2023. The project, announced on X (formerly Twitter), marks a significant expansion of Jupiter’s ecosystem, integrating JupUSD across its perpetuals platform, lending markets, and trading interfaces. JupUSD is being developed in partnership with **Ethana Labs**, a blockchain infrastructure company known for minting over $16 billion in stablecoins through its projects. The stablecoin will be fully collateralized by Ethana Labs’ **USDtb**, a stablecoin backed by treasury assets, including BlackRock’s **USD Institutional Digital Liquidity Fund (BUIDL)**. This collaboration leverages Ethana’s expertise in stablecoin design and BlackRock’s institutional-grade reserves to ensure stability and trust. In addition to USDtb, Jupiter plans to introduce **USDe** as a secondary backing asset, aiming to enhance yield opportunities for users. Smart contracts for minting and redeeming JupUSD are currently under development, with multiple audits planned to ensure security before the launch. Jupiter, which began as a DEX aggregator and has since expanded its offerings, currently holds **$3.58 billion in total value locked (TVL)**, according to DeFiLlama. This makes it the leading protocol on Solana, a testament to its growing influence in the decentralized finance (DeFi) space. The launch of JupUSD underscores Jupiter’s commitment to strengthening Solana’s DeFi infrastructure. By creating a stablecoin deeply integrated into its ecosystem, Jupiter aims to provide users with a reliable, yield-generating asset while reinforcing its position as a key player in the Solana blockchain. As the project moves toward its year-end launch, the DeFi community will be watching closely to see how JupUSD impacts Solana’s liquidity, adoption, and competitive edge in the broader crypto landscape.

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 15 Oct 25
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 15 Oct 25