{"id":89752,"date":"2025-10-09T12:11:01","date_gmt":"2025-10-09T09:11:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=89752"},"modified":"2025-10-09T12:15:16","modified_gmt":"2025-10-09T09:15:16","slug":"ethena-and-jupiter-to-launch-solana-stablecoin-jupusd","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ethena-and-jupiter-to-launch-solana-stablecoin-jupusd\/","title":{"rendered":"Ethena and Jupiter to Launch Solana Stablecoin JupUSD"},"content":{"rendered":"<p>The Ethena Labs team has announced a partnership with the Jupiter platform to launch the native <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoin<\/a> JupUSD on the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">Solana<\/a> blockchain.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Introducing JupUSD: the native stablecoin of the <a href=\"https:\/\/twitter.com\/JupiterExchange?ref_src=twsrc%5Etfw\">@JupiterExchange<\/a> ecosystem built on Ethena&#8217;s Stablecoin-as-a-Service stack.<\/p>\n<p>JupUSD will plug into every major part of the Jupiter stack, including:<\/p>\n<p>\u2014 Jupiter Perps: where the ~$750m in stablecoins inside of JLP will gradually be\u2026 <a href=\"https:\/\/t.co\/jlNLc2eNCz\">pic.twitter.com\/jlNLc2eNCz<\/a><\/p>\n<p>\u2014 Ethena Labs (@ethena_labs) <a href=\"https:\/\/twitter.com\/ethena_labs\/status\/1975924462152495602?ref_src=twsrc%5Etfw\">October 8, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The asset is expected to be released in the fourth quarter of 2025. Under the agreement, Jupiter will gradually convert $750 million <a href=\"https:\/\/forklog.com\/en\/news\/what-are-liquidity-pools-and-how-do-they-work\">from the liquidity pool<\/a> of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a> into JupUSD, according to project representatives.<\/p>\n<p>JupUSD will be used in five main scenarios within the Jupiter ecosystem:<\/p>\n<ul class=\"wp-block-list\">\n<li>as collateral on the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-decentralised-exchange-dex\">decentralized exchange<\/a> for perpetual contracts;<\/li>\n<li>as the primary stablecoin for trading interfaces and the Jup Mobile app;<\/li>\n<li>as one of the main liquidity assets on Jupiter Lend;<\/li>\n<li>in trading pairs on the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-decentralised-exchange-dex\">DEX<\/a> Meteora;<\/li>\n<li>in future ecosystem products.<\/li>\n<\/ul>\n<p>The new token will be part of Ethena&#8217;s White Label product line, which already includes partnerships with <a href=\"https:\/\/forklog.com\/en\/news\/sui-an-ambitious-blockchain-and-cryptocurrency-from-meta-alumni\">Sui<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/can-ethereum-outpace-solana-inside-megaeth-an-ambitious-new-rollup\">MegaETH<\/a>. Previously, the company, in collaboration with Anchorage Digital Bank, introduced the stablecoin USDtb \u2014 the first asset issued in the US under the <a href=\"https:\/\/forklog.com\/en\/news\/donald-trump-enacts-stablecoin-legislation\">GENIUS Act<\/a> standards.<\/p>\n<p>Jupiter co-founder Siong Ong noted that stablecoins have &#8220;already proven their demand in <a href=\"https:\/\/forklog.com\/en\/news\/what-is-blockchain-2\">blockchain<\/a> ecosystems.&#8221; According to him, the sector can &#8220;grow 10\u2013100 times.&#8221; The launch of JupUSD will allow the company to &#8220;secure a central position in <a href=\"https:\/\/forklog.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a> on Solana.&#8221;<\/p>\n<p>Initially, the token will be fully backed by USDtb, which is supported by BlackRock&#8217;s <a href=\"https:\/\/forklog.com\/en\/news\/what-are-tokenised-assets\">tokenized<\/a> BUIDL fund. A transition to USDe backing is possible in the future.<\/p>\n<p>According to CoinGecko, the market capitalization of Ethena Labs&#8217; &#8220;synthetic dollar&#8221; <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethena-usde\">exceeds<\/a> $14.8 billion, making it one of the largest stablecoins. For comparison, at the time of writing, the supply of centralized giants <a href=\"https:\/\/www.coingecko.com\/en\/coins\/tether\">USDT<\/a> and <a href=\"https:\/\/www.coingecko.com\/en\/coins\/usdc\">USDC<\/a> stands at $177 billion and $75 billion, respectively.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"507\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-c1b1da15358c8b39-6393434081896350-1024x507.png\" alt=\"image1\" class=\"wp-image-267242\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-c1b1da15358c8b39-6393434081896350-1024x507.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-c1b1da15358c8b39-6393434081896350-300x149.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-c1b1da15358c8b39-6393434081896350-768x380.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-c1b1da15358c8b39-6393434081896350-1536x761.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-c1b1da15358c8b39-6393434081896350.png 1999w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Stablecoin market capitalization. Source: <a href=\"https:\/\/www.coingecko.com\/en\/charts\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Back in August, Ethena <a href=\"https:\/\/forklog.com\/en\/news\/ethena-adds-bnb-to-usde-stablecoin-collateral-assets\">added<\/a> BNB to the assets backing USDe.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ethena Labs team has announced a partnership with the Jupiter platform to launch the native stablecoin JupUSD on the Solana blockchain.<\/p>\n","protected":false},"author":1,"featured_media":89753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Ethena Labs partners with Jupiter to launch JupUSD stablecoin on Solana.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1500,1159,807],"class_list":["post-89752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethena","tag-solana-sol","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"222","promo_type":"1","layout_type":"1","short_excerpt":"Ethena Labs partners with Jupiter to launch JupUSD stablecoin on Solana.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=89752"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89752\/revisions"}],"predecessor-version":[{"id":89754,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89752\/revisions\/89754"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/89753"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=89752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=89752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=89752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}