Jupiter has launched JupUSD, a new stablecoin backed by BlackRock, improving liquidity and serving as collateral across its ecosystem. JupUSD is a newly launched stablecoin by Jupiter, a decentralized exchange aggregator on the Solana blockchain. This stablecoin aims to enhance liquidity by serving as universal collateral across the Jupiter ecosystem, designed specifically to be pegged to the US dollar.
The JupUSD stablecoin is backed by a diverse reserve: 90% is backed by USDtb, a stablecoin collateralized by BlackRock’s BUIDL fund, while the remaining 10% consists of a USDC liquidity buffer. This structure not only helps maintain stability, but also allows for flexibility as the reserves can be gradually shifted to include USDe. The infrastructure supporting JupUSD comes from Ethena Labs, ensuring robust, institutional-grade security through custody solutions provided by Porto and Anchorage Digital. Although JupUSD itself does not generate yield natively, it integrates seamlessly into Jupiter’s Lend product.
Users can deposit JupUSD into Earn Vaults to earn jlJupUSD, providing access to promotional rewards alongside traditional lending incentives. Jupiter’s roadmap includes the integration of JupUSD across various services. Users can expect its rollout in Limit Orders, DCA tools that come with reward boosts, Mobile applications with unified balances, Perps utilizing JLP as collateral, and prediction markets for settlement. With this comprehensive integration, users will benefit from enhanced usability and liquidity in their transactions on the platform.
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