Ethena and Jupiter are creating a new stablecoin, JupUSD, for Solana.
Date: 2025-10-09 Author: Gabriel Deangelo Categories: BUSINESS
Ethena Labs and Jupiter announced the launch of a new stablecoin, JupUSD, backed by the US dollar. Scheduled for release in Q4 2025, it will be part of Ethena's expansion into the Solana ecosystem.
As part of the partnership, Jupiter plans to convert approximately 750 million USDC from its liquidity pool into JupUSD, which should increase the new asset's resilience and liquidity. JupUSD is expected to occupy a key position in the Jupiter ecosystem, serving as the primary trading and collateral stablecoin.
JupUSD will join Ethena's suite of whitelabel solutions, which already includes USDe and USDtb. According to Ethena Labs CEO Guy Yang, the new asset will allow the company to strengthen its position on Solana, where Ethena is actively developing decentralized solutions for digital currencies.
The new stablecoin will be integrated into various Jupiter products. It will be usable as collateral on decentralized platforms, as well as the primary token on Jupiter Mobile and the Meteora DEX. The company also plans to integrate JupUSD into all future services.
Jupiter co-founder Xiong Ong emphasized that stable digital assets remain the foundation of DeFi infrastructure. He believes the stablecoin market is just beginning to develop, and JupUSD will be a step toward building a larger and more sustainable Solana ecosystem.
In the initial phase, JupUSD will be fully backed by the USDtb stablecoin, created by Ethena in partnership with Anchorage Digital and linked to BlackRock's tokenized liquidity funds. A transition to USDe, a decentralized asset with a supply of over $14.8 billion, is being considered for future collateralization.
According to analysts, the launch of JupUSD indicates growing interest in Solana as a platform for issuing stablecoins. Currently, the network's share in this segment does not exceed 10% of Ethereum's volume, but the collaboration of major players like Ethena and Jupiter could change this situation in the coming quarters.
Experts expect that the successful launch of JupUSD will not only strengthen Solana's position but also be an important step in the development of digital dollar infrastructure, increasing trust in decentralized financial solutions.
