Jupiter Exchange Announces JupUSD, Enters Stablecoin Partnership with Ethena

Ethena Labs has joined forces with leading Solana DeFi hub Jupiter to launch JupUSD, a new Solana-native stablecoin that will be deeply embed across Jupiter’s products offerings.

What’s the Scoop?

• Native SOL Stablecoin: JupUSD will launch in the fourth quarter as a native Solana dollar, initially backed by USDtb — a tokenized U.S. Treasury–backed asset — with the potential to migrate to Ethena’s USDe over time.
• Major Liquidity Shift: As part of the partnership, Jupiter plans to progressively convert roughly $750M of USDC from its Liquidity Provider Pool into JupUSD, positioning it as a core asset across the platform’s ecosystem.
• Deep Ecosystem Integrations: JupUSD will become collateral for Jupiter’s decentralized perpetual exchange, acting as the primary stable asset across trading interfaces and lending products, and function as a liquidity pair on Meteora, one of Solana’s largest DEXs.
• Strategic network expansion: The launch builds on Ethena’s existing partnerships with SUI and MegaETH through its whitelabel stablecoin program, underscoring its goal of powering decentralized dollar infrastructure across multiple chains.