A brand new stablecoin is ready to hitch the Solana
$222.18
blockchain by means of a collaboration between Jupiter
$0.4371
, a decentralized alternate (DEX), and Ethena Labs, a developer of stablecoin infrastructure.
The upcoming token, JupUSD, is predicted to turn into out there within the second half of This fall 2025, in response to a publish on X by Jupiter. As soon as launched, it is going to be used all through the Jupiter platform.
It’ll act as collateral in Jupiter’s perpetual buying and selling platform, be out there in its lending markets, and be utilized in numerous buying and selling pairs.
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This integration goals to enhance consistency throughout Jupiter’s monetary merchandise by introducing a single, secure unit.
The worth of JupUSD might be totally backed by USDtb, a dollar-based token issued by Ethena Labs and supported by short-term US Treasury holdings. To enhance returns for customers over time, Ethena’s different stablecoin product, USDe, will even be added as a part of the collateral base.
Ethena Labs has confirmed that the token might be constructed utilizing its white-label stablecoin platform. This method permits different firms to difficulty their very own stablecoins utilizing Ethena’s infrastructure and reserve administration techniques.
Jupiter will depend on this setup to launch JupUSD with out having to construct its personal backend operations.
JupUSD will even take over as the principle collateral on Jupiter Perps, the platform’s futures market. Jupiter plans to slowly substitute round $750 million in presently used stablecoins inside its liquidity pool with JupUSD.
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