TechFlow, October 8 — According to The Block, Ethena Labs and Jupiter have announced a collaboration to launch JupUSD, a Solana-native stablecoin scheduled for release in Q4 2025. As part of the partnership, Jupiter will gradually convert approximately $750 million in USDC from its liquidity provider pools into JupUSD.
JupUSD will be fully integrated into the Jupiter ecosystem as collateral on its decentralized perpetual exchange, the primary trading stablecoin, the main liquidity hub for Jupiter Lend, and as a liquidity pairing token on Meteora.
Initially, the stablecoin will be fully backed by USDtb invested in BlackRock's tokenized institutional digital liquidity fund (BUIDL), with a potential future transition to being backed by USDe.
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