Jupiter to Launch JupUSD Stablecoin on Solana
Jupiter, a top decentralized trading platform on Solana, will launch its own stablecoin called JupUSD. The token is set to go live in mid-Q4 2025. Jupiter developed JupUSD in partnership with Ethena Labs. This marks Jupiter’s first stablecoin project.
JupUSD will be fully integrated across Jupiter’s platform. It will act as collateral on Jupiter Perpetuals, serve as a liquidity asset in lending pools, and be a base trading pair for users.
Backing and Technology Behind JupUSD
The stablecoin will be 100% backed by Ethena Labs’ USDtb. USDtb is a dollar-pegged token supported by short-term US Treasury assets. Jupiter plans to add Ethena’s synthetic dollar, USDe, as additional collateral later. This aims to improve yield and stability.
Ethena Labs confirmed the partnership on X. JupUSD will use Ethena’s white-label stablecoin-as-a-service framework. This system allows partners to issue branded stablecoins using Ethena’s infrastructure.
Jupiter aims to replace about $750 million of existing stablecoins in its liquidity pools with JupUSD. The token will become the platform’s primary collateral asset.
Growth of White-Label Stablecoins
White-label stablecoins are gaining popularity in a market worth over $300 billion, according to DefiLlama data. Recently, SUI Group launched suiUSDe and USDi, the first native stablecoins on the Sui blockchain. These are also powered by Ethena Labs.
North Dakota announced plans to launch its own Roughrider Coin with fintech company Fiserv. Companies like Ethena Labs, Fiserv, Bastion, and Stripe offer turnkey solutions for issuing branded stablecoins. This trend signals growing adoption in the crypto economy.
