Solana DEX Jupiter launches JupUSD stablecoin

Jupiter, a Solana-based decentralized exchange, has launched its native stablecoin, JupUSD, The Block reported. According to the project, JupUSD can be used across products on the Jupiter platform and will serve as the protocol's unit of account. The stablecoin is issued in partnership with Ethena and is backed by assets including Ethena's USDtb and USDC, with Ethena exclusively managing the reserves. USDtb is a stablecoin backed by BlackRock's tokenized fund, BUIDL. Jupiter plans to hold 90% of JupUSD's reserves in USDtb.