Yes

>>Jupiter and Ethena Labs will release JupUSD, a Solana-based stablecoin, in the fourth quarter of 2025.

Jupiter and Ethena Labs will release JupUSD, a Solana-based stablecoin, in the fourth quarter of 2025.

crypthub

1 day ago

Introducing JupUSD

Jupiter and Ethena Labs are collaborating to launch JupUSD, a Solana-based stablecoin designed to increase on-chain liquidity. The stablecoin is slated to debut in late 2025 and will initially be backed by USDtb. This project marks Jupiter's entry into the stablecoin market and aims to expand Solana's stablecoin ecosystem.

JupUSD's Backing and Potential

JupUSD will initially be backed by USDtb, which invests in tokenized assets like BlackRock’s BUIDL fund, providing a degree of real-world asset collateralization. There is the potential to transition to backing by USDe, Ethena’s delta-hedged synthetic dollar, over time. Jupiter intends to integrate JupUSD across its product suite, including exchanges and lending platforms.

Ethena’s Whitelabel Strategy and Solana’s Ecosystem

JupUSD is the latest addition to Ethena’s whitelabel stablecoin program, allowing DeFi platforms to create branded stable assets. This expansion aligns with Ethena's goal of providing institution-grade stablecoin infrastructure. The launch aims to boost Solana's relatively smaller stablecoin market share and solidify Jupiter’s position within the Solana DeFi ecosystem.