Solana DeFi Exchange Jupiter to Launch Native Stablecoin

Jupiter, a leading decentralized exchange (DEX) aggregator on Solana, is set to launch its own stablecoin, JupUSD, in collaboration with Ethena. This new stablecoin is expected to debut in Q4 of 2025 and will initially be collateralized by Ethena's USDtb, which is backed by short-term U.S. treasuries through BlackRock’s BUIDL fund. Future plans include integrating Ethena’s flagship stablecoin USDe as additional collateral. Jupiter aims to enhance its DeFi ecosystem by enabling JupUSD for trading, lending, and as collateral for perpetual futures. The stablecoin market has seen significant growth, exceeding $300 billion—a 75% increase over the past year. Ethena's offerings make up over 5% of this market share, highlighting the increasing relevance of stablecoins in DeFi operations, particularly for facilitating transactions without relying on third-party intermediaries. Jupiter intends to deploy JupUSD across its various DeFi products to bolster the ecosystem, underscoring the importance of stablecoins in the crypto landscape.

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