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Ethena Labs, the developer behind the decentralized synthetic dollar USDe, has partnered with Jupiter to launch JupUSD, a new Solana-based stablecoin set to debut in the fourth quarter of 2025.
According to project representatives, Jupiter plans to convert roughly $750 million of USDC from its liquidity pool into JupUSD as part of the rollout, establishing deep liquidity and integration across the Solana ecosystem.
The move expands Ethena’s growing portfolio of dollar-pegged assets. Earlier this year, Ethena collaborated with Anchorage Digital, a federally chartered crypto bank, to issue USDTb, the first stablecoin minted under GENIUS Act compliance standards in the U.S.
“JupUSD is the newest addition to our Whitelabel product lineup, which already powers stablecoin partnerships with industry leaders like SUI and MegaETH,” said Guy Young, founder of Ethena Labs.
The collaboration marks a major step in connecting decentralized synthetic assets with Solana’s high-speed infrastructure, signaling increased competition in the multi-chain stablecoin market as projects race to integrate compliant, high-liquidity dollar alternatives.