Jupiter, Solana’s leading DEX, has partnered with Ethena Labs, creators of USDe, to launch a new Solana-native stablecoin called JupUSD.

Set to debut in Q4 2025, JupUSD will initially be backed 1:1 by USDtb, a regulated stablecoin tied to BlackRock’s BUIDL tokenized fund, with plans to incorporate USDe-based collateral later.

Jupiter will convert $750 million worth of USDC from its liquidity pools into JupUSD to boost adoption. The token will be integrated across Jupiter’s trading, lending, and mobile platforms, serving as a key liquidity asset for Meteora, Jupiter Lend, and upcoming DeFi products.

With over $14.8 billion locked in USDe and investor backing from Binance Labs, Fidelity, and Franklin Templeton, Ethena’s collaboration with Jupiter could bring transformative liquidity to Solana’s ecosystem.

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