Rich by Coin

Jupiter announced the launch of JupUSD on the 6th, a reserve-backed stablecoin pegged to the US dollar. It is designed to serve as collateral across Jupiter’s product lineup, with initial use cases in lending, borrowing, and prediction markets. The reserve mix is 90% USDtb and 10% USDC; USDtb is backed by BlackRock’s BUIDL fund, and Jupiter says it meets the Genius framework for US stablecoins. The project uses Ethena Labs infrastructure and is custody-managed through Anchorage Digital’s Portto service for institutional safekeeping.

The JupUSD codebase is public and has undergone audits from Offside Labs, Guardian Audits, and Pasho Audit Group. JupUSD does not generate standalone revenue but is integrated with Jupiter’s lending services, enabling minting via deposit and access to promotional rewards beyond standard lending yields. Jupiter plans to expand JupUSD across the full service stack, including limit orders, recurring buys, integrated balances, derivatives using JLP collateral, and prediction-market settlements, with broader rollout planned for next week.