Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Jupiter launches the JupUSD stablecoin backed by BlackRock's tokenized treasury fund
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.