Jupiter Introduces JupUSD Stablecoin in Partnership With Ethena

• Jupiter introduces JupUSD, a reserve-backed stablecoin pegged to the US dollar.
• Most reserves are held in USDtb, backed by BlackRock’s BUIDL fund.
• JupUSD is secured with institutional custody and multiple independent audits.

Crypto trading platform Jupiter has launched JupUSD, a new reserve-backed stablecoin pegged to the U.S. dollar, as it looks to expand its role in onchain finance. The stablecoin was developed in collaboration with Ethena Labs and is designed to act as a core settlement asset across Jupiter’s products.

Backed by Tokenized U.S. Dollar Assets

Jupiter said around 90% of JupUSD reserves will be held in USDtb, a licensed stablecoin backed by tokenized U.S. Treasury assets. USDtb is collateralized through BlackRock’s BUIDL fund, with issuance handled by Securitize.

The remaining 10% of reserves will be held in USDC to provide liquidity sup…

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