JupUSD Stablecoin Launches on Solana with BlackRock BUIDL Backing
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Stablecoin Innovation: JupUSD launched on February 15, 2025, on the Solana platform as the primary unit of account for the Jupiter protocol, specifically designed to address previous stablecoin limitations within the Solana network, thereby enhancing user experience and financial stability.
- Partnership Dynamics: Jupiter established a partnership with Ethena to exclusively manage JupUSD's reserve assets, leveraging Ethena's expertise in synthetic dollar protocols and reserve management, which adds credibility to the stablecoin initiative.
- Asset Backing Structure: JupUSD maintains reserves composed of 90% USDtb (backed by BlackRock's BUIDL) and 10% USDC, creating a multi-layered asset backing structure that provides institutional validation and signifies the maturation of decentralized finance.
- Market Impact: The launch of JupUSD is expected to attract increased institutional capital into Solana DeFi, potentially reshaping liquidity distribution and prompting other decentralized exchanges to develop similar native stablecoin solutions.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
