Jupiter announced the launch of JupUSD, a new reserve-backed stablecoin issued natively on Solana and built in partnership with Ethena. JupUSD streamlines the onchain finance experience, providing a clear, transparent unit of account that snaps into the Jupiter Superapp and the wider Solana ecosystem so users, market makers, and builders can move value with confidence.
JupUSD is backed by USDtb and USDC held in segregated, publicly verifiable custodian wallets. Collateralized by BlackRock’s BUIDL Fund, USDtb is issued under a licensed, GENIUS-compliant framework, with institutional-grade custody. The result is a clean dollar primitive that behaves like any SPL token while providing the clarity institutions and integrators expect.
“Jupiter is the leader in onchain finance, and JupUSD is a valuable component of our growing suite of DeFi products,” said Xiao-Xiao J. Zhu, President of Jupiter. “I want to congratulate Jupiter’s team and our partner Ethena for the hard work that’s gone into making this important launch possible.”
Native Integrations Across Jupiter:
JupUSD unlocks immediate composability across the entire Jupiter product suite.
On Jupiter Lend, JupUSD deposits mint jlJupUSD, a reward-accruing token that captures both lending returns plus any eligible rewards. Because jlJupUSD functions like a staked form of JupUSD, it continues to earn rewards while it is deployed into Limit Orders or DCA strategies.
JupUSD will also integrate into Jupiter Perps’ JLP Pool, with a phased transition of USDC collateral and LP balances to JupUSD to capture additional yield and unify dollar liquidity across the stack.
Institutional-Grade Infrastructure:
For onboarded institutions and market makers, JupUSD offers 24/7 minting in a single on-chain transaction against USDC, with published limits and clear capacity so teams can plan flows. Redemptions settle in a single transaction as well and are available whenever the on-chain USDC buffer is sufficient; the buffer is monitored and topped up on a rolling basis to target continuous availability. The process is simple: approved addresses request a quote, sign once, and settle atomically on Solana.
Ethena manages day-to-day reserve operations—including custody coordination, bridging, and rebalancing between backing assets—with segregated addresses, auditable procedures, and transparent capacity signals.
“We are excited to be supporting the launch of JupUSD as Ethena’s next major foray onto Solana,” said Guy Young, founder of Ethena Labs. At Ethena, we’ve been impressed by the speed of execution across Jupiter’s ecosystem of products. With the Ethena-powered JupUSD live, Jupiter now owns the economics for a critical part of its stack and can drive value back to its own ecosystem.”
Getting started:
Institutions or partners can request onboarding for mint/redeem access by reaching out to partnerships@jupusd.money
Developers can find the mint addresses, program IDs, and documentation at jupusd.money
Users can swap and use JupUSD across Jupiter here
About Jupiter
Jupiter is the global leader in onchain finance, building the infrastructure for an open financial future. With over $1 trillion in annual volume, Jupiter delivers a unified superapp experience that is simple to use, built to last, and proven at scale. It is today the #1 trading venue and #1 protocol by TVL on Solana, operating a full-stack onchain product suite spanning self-custody, spot, perpetuals, lend, stake, token creation, prediction markets, developer APIs, with many more products to come.
About Ethena
Ethena Labs is the creator of USDe and USDtb and a contributor to the Ethena protocol. Ethena is the protocol behind USDe, the third-largest and fastest growing USD-denominated crypto asset in history with over $7 billion in TVL today across one of the largest sets of DeFi users, alongside integrations with some of the largest centralized exchanges and major DeFi applications. Ethena Labs is backed by Fidelity, Franklin Templeton, Dragonfly, Binance Labs, Bybit, and OKX among others.