Jupiter Launches JupUSD, Backed by BlackRock’s BUIDL Fund

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Jupiter Debuts JupUSD Stablecoin, Secured by BlackRock’s BUIDL Shares

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 07, 2026

Key Takeaways

Jupiter has launched JupUSD, a dollar-pegged stablecoin on Solana, developed in collaboration with Ethena Labs;
Around 90% of JupUSD’s reserves are held in USDtb, backed by BlackRock’s BUIDL fund, with the rest in USDC for liquidity;
JupUSD integrates into Solana apps, supports yield-earning deposits, and enables direct minting and redemption via USDC.

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Jupiter Debuts JupUSD Stablecoin, Secured by BlackRock’s BUIDL Shares

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Jupiter JUP $0.2028 , a decentralized finance (DeFi) platform built on Solana, has launched JupUSD, a stablecoin tied to the US dollar.

The project was developed in partnership with Ethena Labs and is issued directly on the Solana SOL $135.26 blockchain.

According to a post on X by Jupiter, about 90% of JupUSD’s reserves will be held in USDtb. USDtb is a licensed stablecoin backed by shares of BlackRock’s tokenized money-market fund, BUIDL.

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The other 10% will be kept in USDC USDC $1.00 to provide liquidity, with additional support from a pool on Meteora.

JupUSD is an SPL token, which is the standard format for tokens on Solana. This allows it to work easily with other Solana-based applications.

Jupiter stated that the reserves are held through Porto and Anchorage Digital, with on-chain verification available to the public.

Within Jupiter’s lending product, users can deposit JupUSD to earn a yield. This yield-bearing token continues to earn returns even when used for features such as limit orders or automated dollar-cost averaging (DCA).

Jupiter also plans to add JupUSD to its perpetual trading platform, which will eventually replace USDC as the main collateral and liquidity asset.

For institutions and market makers, JupUSD supports direct on-chain minting and redemption against USDC in a single transaction on Solana.

Ethena Labs, the company behind the Ethena protocol and the issuers of USDe and USDtb, will manage JupUSD’s reserves.

StraitsX, a payment company regulated by the Monetary Authority of Singapore (MAS), recently announced plans to launch its XSGD and XUSD stablecoins on the Solana blockchain. What did the company say? Read the full story.