Jupiter Taps Ethena Labs to Power Solana’s First Ecosystem Stablecoin JupUSD

TLDR:

• JupUSD will serve as the main stablecoin across Jupiter’s trading, lending, and perpetual markets on Solana.
• The stablecoin will initially be backed by USDtb, linked to BlackRock’s BUIDL fund for asset transparency.
• JupUSD will be integrated into Jupiter Perps, Lend, and Swap platforms, supporting the entire Jupiverse.
• Ethena Labs’ Stablecoin-as-a-Service framework powers JupUSD, with Solana-native contracts launching in Q4 2025.
  

Jupiter Exchange is preparing to launch its own Solana-native stablecoin, JupUSD, in partnership with Ethena Labs. 

The new digital asset will be built on Ethena’s Stablecoin-as-a-Service infrastructure, designed to integrate deeply across the Jupiter ecosystem. According to updates shared by both teams, JupUSD will underpin Jupiter’s trading, lending, and perpetual products. 

Development is underway, with the rollout expected in the coming months.

Ethena Labs described JupUSD as a native stablecoin engineered to support every major layer of the Jupiter stack. It represents the next evolution in Solana-based liquidity tools, aiming to provide stability and interoperability within decentralized finance platforms. 

The project marks Jupiter’s latest move to consolidate its position as a full-service DeFi hub on Solana.

JupUSD to Power Jupiter Perps, Lend, and Swap Platforms

The partnership between Jupiter and Ethena Labs will position JupUSD as the key liquidity layer across the entire Jupiter suite. 

Based on official posts from @JupiterExchange, JupUSD will replace the existing $750 million in stablecoins within the Jupiter Liquidity Pool (JLP) over time. It will also act as the primary collateral asset on Jupiter Perps and as the foundation for Jupiter Lend.

The stablecoin will be integrated into Jupiter’s Swap, Pro, and Mobile platforms, ensuring consistent usage across trading environments. According to Ethena Labs, these integrations will enable users to transact, borrow, and lend using the same stable asset. 

The goal is to simplify user experience across decentralized applications while strengthening liquidity reliability.

Initially, JupUSD will be backed by USDtb, a stablecoin that holds reserves nearly fully collateralized by BlackRock’s BUIDL fund. This linkage adds transparency and asset security to its design. 

Over time, Jupiter plans to include Ethena’s USDe as part of JupUSD’s collateral base, offering yield optimization within a regulated framework.

Solana Contracts and Launch Timeline

Ethena Labs confirmed that Solana-native mint and redeem contracts are currently in development for JupUSD. 

Multiple security audits are underway, with deployment planned for mid-Q4 2025. Once live, these contracts will allow users to mint and redeem JupUSD directly on Solana, ensuring seamless access to on-chain liquidity.

JupUSD also forms part of Ethena’s expanding Whitelabel Stablecoin-as-a-Service program, which already supports several tier-one protocols. By offering modular stablecoin solutions, Ethena enables DeFi networks to launch native, asset-backed currencies without building entire infrastructures from scratch.

As both teams prepare for rollout, Jupiter has invited interested partners to integrate or hold JupUSD through its official communication channels. This collaboration signals another step toward making Solana’s DeFi ecosystem more stable and self-sustaining.

The post Jupiter Taps Ethena Labs to Power Solana’s First Ecosystem Stablecoin JupUSD appeared first on Blockonomi.