- Ethena Labs and Jupiter are launching JupUSD, a Solana-based stablecoin for the Jupiter ecosystem.
- JupUSD will become the main dollar-linked token across platforms like Jupiter Perps and Jupiter Lend.
- Jupiter will convert about $750 million in its Liquidity Provider Pool from USDC to JupUSD over time.
- Recent price changes showed a 2.3% increase for ENA and a 0.5% rise for JUP, but both faced bearish retail sentiment.
- Ethena’s founder highlighted JupUSD as part of the company’s broader expansion into whitelabel stablecoins.
Ethena Labs announced a partnership with Jupiter to release JupUSD, a new stablecoin backed one-to-one with the U.S. dollar and designed for the Solana Blockchain. The token is set to serve as the primary dollar-pegged asset throughout the Jupiter ecosystem, including platforms like Jupiter Perps and Jupiter Lend. JupUSD is expected to launch in the fourth quarter.
As part of this collaboration, Jupiter will gradually convert approximately $750 million of USDC—another widely used stablecoin—from its Liquidity Provider Pool into JupUSD. In recent market activity, ENA’s token price increased by 2.3% in the past 24 hours, while JUP climbed 0.5%, even as both tokens continued to see mostly negative sentiment among retail traders.
This launch signals a further expansion for Ethena Labs on the Solana network, which could open up new opportunities within Solana’s stablecoin sector. Solana’s own price rose by 2.1% over a 24-hour period, trading near $227, with retail sentiment reported as bullish.
“JupUSD marks the latest addition to Ethena’s Whitelabel product lineup, which is already powering stablecoin partnerships with industry leaders such as Sui and MegaETH,” stated Ethena founder Guy Young. Last week, Ethena also announced plans to partner with Sui and SUI Group to introduce suiUSDe, a Sui-based synthetic stablecoin.
Ethena has confirmed that JupUSD will integrate directly into both Jupiter Perps and Jupiter Lend, with the $750 million of stablecoins in liquidity pools set to transition to JupUSD. The token will also act as the primary lending asset within Jupiter Lend.
For more cryptocurrency news, see: Bitcoin–Ethereum-retreat-amid-650m-in-liquidations/”>BNB Hits Record $1,330 While Bitcoin, Ethereum Retreat Amid $650 Million Liquidations.
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