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Jupiter and Ethena to Launch Solana Stablecoin JupUSD in Q4 2025

Key Takeaways

  • Jupiter and Ethena Labs are launching JupUSD, a dollar-backed token on Solana, expected to go live in the second half of Q4 2025;
  • JupUSD will be used across Jupiter’s platform, as collateral, in lending pools, and for trading pairs, to unify its stablecoin usage;
  • JupUSD will later include USDe to boost yield, which will replace $750 million in stablecoins on Jupiter Perps.​

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Jupiter and Ethena to Launch Solana Stablecoin JupUSD in Q4 2025

A new stablecoin is set to join the Solana SOL $218.90 blockchain through a collaboration between Jupiter JUP $0.4288 , a decentralized exchange (DEX), and Ethena Labs, a developer of stablecoin infrastructure.

The upcoming token, JupUSD, is expected to become available in the second half of Q4 2025, according to a post on X by Jupiter. Once released, it will be used throughout the Jupiter platform.

It will act as collateral in Jupiter’s perpetual trading platform, be available in its lending markets, and be used in various trading pairs.

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This integration aims to improve consistency across Jupiter’s financial products by introducing a single, stable unit.

The value of JupUSD will be fully backed by USDtb, a dollar-based token issued by Ethena Labs and supported by short-term US Treasury holdings. To improve returns for users over time, Ethena’s other stablecoin product, USDe, will also be added as part of the collateral base.

Ethena Labs has confirmed that the token will be built using its white-label stablecoin platform. This system allows other companies to issue their own stablecoins using Ethena’s infrastructure and reserve management systems.

Jupiter will rely on this setup to launch JupUSD without having to build its own backend operations.

JupUSD will also take over as the main collateral on Jupiter Perps, the platform’s futures market. Jupiter plans to slowly replace around $750 million in currently used stablecoins within its liquidity pool with JupUSD.

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Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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