Jupiter launches the JupUSD stablecoin backed by BlackRock's tokenized treasury fund

not_your_keys · 2026-01-06T01:31:42+00:00

Jupiter, a decentralized exchange on Solana, launched JupUSD, a stablecoin backed by BlackRock's tokenized treasury fund. This move enhances Jupiter's B2B services and allows better internal management of its stablecoin economy.

not_your_keys

2026-01-06 01:31:42

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Source: Yellow Original Title: Jupiter launches the JupUSD stablecoin backed by BlackRock’s tokenized treasury fund

Original Link: The decentralized exchange Jupiter, based on Solana, launched JupUSD, a native stablecoin created in partnership with Ethena Labs.

The dollar-pegged asset is primarily backed by USDtb, which maintains reserves in BlackRock’s tokenized treasury fund.

Jupiter plans to convert approximately 500 million USDC from its perpetual liquidity pool into JupUSD.

What happened

JupUSD functions as a white-label stablecoin from Ethena, backed by the dollar-pegged stablecoin USDtb and USDC.

USDtb itself holds its collateral in the BlackRock USD Institutional Digital Liquidity Fund.

Ethena manages daily reserve operations with published capacity limits.

The stablecoin is integrated into Jupiter’s growing suite of products, including perpetual trading, lending, limit orders, and mobile applications.

Jupiter’s COO, Kash Dhanda, stated that the stablecoin represents a critical component for serving users through decentralized finance infrastructure.

Why it matters

The launch marks a significant deployment for Ethena’s B2B white-label stablecoin service.

Ethena co-founder, Guy Young, described JupUSD as the “next big move on Solana” for the firm, as the platform expands beyond Ethereum.

Jupiter has evolved from an aggregator of DEXs to what it describes as a “superapp” encompassing trading, lending, and token creation.

The integration allows Jupiter to internally retain the stablecoin’s economy instead of relying on external assets like USDC.

Ethena stated that the model enables protocols to make their products more efficient and increase the value returned to ecosystems.

JUP-1,44%

SOL-2%

ENA-1,37%

USDC0,02%

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ChainMemeDealer

· 01-09 00:08

Jupiter is up to something new again? This time teaming up with BlackRock, really playing around The stablecoin endorsed by BlackRock sounds quite different, but the Solana ecosystem is getting competitive now Can JupUSD beat USDC? It still depends on market response Ethena Labs has appeared again, this team has been making moves recently Honestly, I have some doubts about this kind of joint issuance, worried it might just be hype

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AirdropCollector

· 01-09 00:01

BlackRock enters stablecoins? Solana ecosystem is about to take off --- Jupiter partners with Ethena to launch JupUSD, backed by Blackstone's liquidity pool. This time might really be different --- Wait, are they using BlackRock's tokenized treasury? Are they bringing traditional finance directly on-chain? --- Another stablecoin, but having big institutional backing is indeed different. Let's see how the liquidity develops --- JupUSD to beat USDC? That's quite a bold move haha --- The stablecoin ecosystem on Solana is becoming more and more complete. It seems like they are aiming to take market share from USDT

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liquidation_watcher

· 01-07 19:17

Blackstone-backed stablecoin? Traditional finance is really about to be swallowed by the blockchain now.

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AltcoinTherapist

· 01-06 02:01

Jupiter is at it again, backed by Blackstone's stablecoin? This time, the Solana ecosystem is really about to take off.

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