2026-01-05 23:25:29

Jupiter has launched its native stablecoin JUPUSD, and this move is quite significant—backed by BlackRock and Ethena's USDtb, which constitute 90% of the reserves.

From a certain perspective, this marks the official entry of institutional-grade stablecoin solutions into the DeFi mainstream. Previously, stablecoins were mainly maintained by project teams alone; now, the introduction of joint endorsements from traditional financial giants and on-chain protocols changes the game.

The design concept of JUPUSD is very interesting—it doesn't bear all the reserve pressure itself but leverages BlackRock's USD asset management capabilities and Ethena's stablecoin liquidity depth to form a multi-layered collateral structure. This approach reduces single-point risk while improving capital efficiency.

For the DeFi ecosystem, the increasing number of compliant, transparent stablecoins backed by major institutions means more traditional funds and risk-averse users may flow into on-chain financial scenarios. As a leading DEX in the Solana ecosystem, Jupiter launching a stablecoin is also about enhancing its product matrix and creating a more closed-loop ecosystem.

DEFI9,42%

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DustCollector

· 17h ago

Blackstone enters the stablecoin space, now on-chain finance is really about to change Jupiter's move was brilliant, a classic case of leveraging to gain an advantage Wait, isn't the 90% reserve ratio a bit risky? The Solana ecosystem is becoming more and more complete, but it feels like copying CeFi With institutions coming in, traditional finance is truly arriving, DeFi is no longer so punk

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SignatureCollector

· 01-08 11:43

Blackstone + Ethena endorsement, this combo is indeed powerful. But to be honest, I still have some reservations about institutions entering the stablecoin space.

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GasOptimizer

· 01-08 06:05

Blackstone enters stablecoins, now on-chain finance is really about to take off --- Wait, is the 90% reserve thing reliable? Or just another trust game --- Jupiter's move was well played, but can Solana capitalize on this wave of benefits --- Institutional endorsement sounds appealing, but is the risk truly diversified... a bit worried --- I just want to know if JUPUSD will become the next USDC, and how long it can last --- A typical ecosystem closed-loop idea, but the real test is still ahead

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GateUser-9f682d4c

· 01-07 18:35

Really bringing BlackRock onto the blockchain, now the stablecoin might be saved.

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GweiWatcher

· 01-05 23:55

Alright, BlackRock's endorsement does have some weight, but it feels like the prelude to institutions taking advantage? But on the other hand, this multi-layer collateralization approach is definitely more reliable than those single reserves. Jupiter's move was well played; it complements the Solana ecosystem. The number of stablecoins is increasing, everyone really wants a piece of the pie. JUPUSD? Let's wait and see how the actual liquidity looks, don't just listen to the stories. The joint endorsement by BlackRock and Ethena sounds great, but I'm worried it might suddenly turn sour. Traditional funds might really start entering DeFi now; it feels like our era has arrived. Multi-layer collateral structures are essentially about risk diversification—smart design. Another stablecoin; DeFi is really about to be flooded by this stuff. On capital efficiency, we've learned a lot; not bearing all the pressure ourselves is very wise.

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LiquidityOracle

· 01-05 23:54

Alright, BlackRock entering the stablecoin space, this time it's really different Really? 90% of the reserves rely on big names backing it, it feels like stablecoins are finally getting some credibility Jupiter's move is quite aggressive, directly bringing institutional-level assets onto the chain, Solana ecosystem is about to take off again Wait, is this indirectly allowing traditional financial giants to control on-chain liquidity? It feels a bit complicated Multi-layer collateral structures sound good, but honestly, it still depends on the actual transaction volume More and more stablecoins are emerging, compliance is compliance, but I'm just worried it might turn into another centralized trap Jupiter's approach is actually the standard operation for an ecosystem closed loop, no one has played it this way before

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BlockImposter

· 01-05 23:53

Whoa, BlackRock directly entering the stablecoin market. Web3 is really about to go mainstream. The "big money" series, how long can JUPUSD last? It's another layered reserve structure; in the end, users probably have to take the blame if something goes wrong. The Solana ecosystem is self-sustaining and becoming more like a financial system, which is pretty impressive. This move truly changes the game, traditional finance has to bow down. Institutional stablecoins are booming; how do small investors still have a chance... Feels like stablecoins are increasing, but liquidity is becoming more and more scarce. Jupiter wants to master the entire Solana process—such ambition! Can BlackRock sleep peacefully just because of their backing? History will tell. Another "ultimate solution" has appeared. Is this time really different?

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BankruptWorker

· 01-05 23:53

BlackRock's backing of this matter, traditional finance is really about to get involved, it feels like the crypto world is about to change.

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Fren_Not_Food

· 01-05 23:52

Blackstone + Ethena-backed stablecoin, DeFi is really coming now. It's starting to feel more and more like traditional finance...

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NFTArchaeologis

· 01-05 23:50

It's somewhat like observing the evolution of ancient monetary systems—from single minting rights to multi-party endorsements, with trust rooted in decentralization. The entry of traditional financial institutions like BlackRock has, to some extent, changed the narrative of on-chain finance.

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