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Ethena Labs has joined forces with leading 
Solana DeFi hub Jupiter to launch JupUSD, a new Solana-native stablecoin that will be deeply embed across Jupiter’s products offerings.
What’s the Scoop?
- Native SOL Stablecoin: JupUSD will launch in the fourth quarter as a native Solana dollar, initially backed by USDtb — a tokenized U.S. Treasury–backed asset — with the potential to migrate to Ethena’s USDe over time.
- Major Liquidity Shift: As part of the partnership, Jupiter plans to progressively convert roughly $750M of USDC from its Liquidity Provider Pool into JupUSD, positioning it as a core asset across the platform’s ecosystem.
- Deep Ecosystem Integrations: JupUSD will become collateral for Jupiter’s decentralized perpetual exchange, acting as the primary stable asset across trading interfaces and lending products, and function as a liquidity pair on Meteora, one of Solana’s largest DEXs.
- Strategic network expansion: The launch builds on Ethena’s existing partnerships with SUI and
MegaETH through its whitelabel stablecoin program, underscoring its goal of powering decentralized dollar infrastructure across multiple chains.
BREAKING: Jupiter is launching its own stablecoin 🥳
— Jupiter (🐱, 🐐) (@JupiterExchange) October 8, 2025
Built in partnership with @ethena_labs, engineered to connect the Jupiverse.$JupUSD, going live in Q4. pic.twitter.com/MWTNTwpvHJ
