Jupiter Announces Launch of Reserve-Backed US Dollar Stablecoin JupUSD

BlockBeats News, January 5th, according to official sources, Jupiter announced the launch of the reserve-backed stablecoin JupUSD, built on Ethena Labs technology. Initially, 90% of the reserve assets will be composed of USDtb. USDtb is a licensed stablecoin that complies with the requirements of the GENIUS Act and is backed by assets from BlackRock's BUIDL Fund. Simultaneously, 10% of USDC is set up as liquidity buffer and paired with a secondary liquidity pool on Meteora.

In the future, Jupiter plans to gradually convert part of the reserve to USDe to further enhance the flexibility, resilience, and capital efficiency of the Jupiter ecosystem.

Furthermore, its codebase has been fully open-sourced and has undergone three independent audits by Offside Labs, Guardian, and Pashov Audit Group before going live.

While JupUSD itself does not generate yield, it is deeply integrated with Jupiter Lend, enabling its use in lending, long/short leveraged positions, and access to exclusive benefits.