Rich by Coin

Jupiter announced the launch of JupUSD, a new reserve-backed stablecoin issued natively on Solana and built in partnership with Ethena. JupUSD is backed by USDtb and USDC held in segregated, publicly verifiable custodian wallets. Collateralized by BlackRock’s BUIDL Fund, USDtb is issued under a licensed, GENIUS-compliant framework, with institutional-grade custody. The result is a clean dollar primitive that behaves like any SPL token while providing the clarity institutions and integrators expect.

JupUSD unlocks immediate composability across the entire Jupiter product suite. On Jupiter Lend, JupUSD deposits mint jlJupUSD, a reward-accruing token that captures both lending returns plus any eligible rewards. Because jlJupUSD functions like a staked form of JupUSD, it continues to earn rewards while it is deployed into Limit Orders or DCA strategies. JupUSD will also integrate into Jupiter Perps’ JLP Pool, with a phased transition of USDC collateral and LP balances to JupUSD to capture additional yield and unify dollar liquidity across the stack.

For onboarded institutions and market makers, JupUSD offers 24null7 minting in a single on-chain transaction against USDC, with published limits and clear capacity so teams can plan flows. Redemptions settle in a single transaction as well and are available whenever the on-chain USDC buffer is sufficient; the buffer is monitored and topped up on a rolling basis to target continuous availability. The process is simple: approved addresses request a quote, sign once, and settle atomically on Solana. Ethena manages day-to-day reserve operations—including custody coordination, bridging, and rebalancing between backing assets—with segregated addresses, auditable procedures, and transparent capacity signals.