
Jupiter Launches JupUSD Stablecoin Backed By BlackRock's Tokenized Treasury Fund
Solana-based decentralized exchange Jupiter has launched JupUSD, a native stablecoin developed in collaboration with Ethena Labs. The asset is backed by USDtb, which maintains reserves in BlackRock's USD Institutional Digital Liquidity Fund, alongside USDC collateral. Jupiter intends to convert approximately $500 million of USDC from its perpetuals liquidity pool into this new stablecoin to enhance internal economic efficiency. By integrating JupUSD across its suite of perps trading, lending, and limit order products, Jupiter aims to reduce reliance on external stablecoin providers. This launch represents a significant expansion for Ethena Labs, marking its first major deployment of a whitelabel stablecoin service on the Solana blockchain. The move signifies a broader trend of DeFi protocols internalizing stablecoin issuance to capture value and optimize liquidity management. This development highlights the growing integration of institutional-grade tokenized treasury products into high-volume decentralized trading environments.



