A brand new stablecoin is ready to hitch the Solana
$222.52
blockchain by means of a collaboration between Jupiter
$0.4355
, a decentralized change (DEX), and Ethena Labs, a developer of stablecoin infrastructure.
The upcoming token, JupUSD, is anticipated to develop into out there within the second half of This fall 2025, in accordance with a submit on X by Jupiter. As soon as launched, it is going to be used all through the Jupiter platform.
It can act as collateral in Jupiter’s perpetual buying and selling platform, be out there in its lending markets, and be utilized in varied buying and selling pairs.
Do you know?
Subscribe – We publish new crypto explainer movies each week!
What’s Staking Crypto? (Rewards & Dangers Defined SIMPLY)
This integration goals to enhance consistency throughout Jupiter’s monetary merchandise by introducing a single, steady unit.
The worth of JupUSD will probably 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, may also be added as a part of the collateral base.
Ethena Labs has confirmed that the token will probably be constructed utilizing its white-label stablecoin platform. This technique permits different corporations to difficulty their very own stablecoins utilizing Ethena’s infrastructure and reserve administration programs.
Jupiter will depend on this setup to launch JupUSD with out having to construct its personal backend operations.
JupUSD may also take over as the principle collateral on Jupiter Perps, the platform’s futures market. Jupiter plans to slowly change round $750 million in at the moment used stablecoins inside its liquidity pool with JupUSD.
On October 8, North Dakota introduced plans to introduce Roughrider Coin. What’s it? Learn the total story.
