Ethena Labs and Jupiter Exchange have partnered to launch JupUSD, a stablecoin designed to boost Solana’s decentralized finance (DeFi) ecosystem. This innovative move replaces $750 million in existing stablecoins within the Jupiter Liquidity Pool and forms the foundation for various DeFi products on the platform. The stablecoin is backed by USDTb tied to BlackRock’s BUIDL fund, bridging traditional financial instruments with blockchain technology. 750 million USD will be moved from existing stablecoins into JupUSD, and serve as the core lending token within Jupiter Lend. This integration aims to enhance liquidity management and provide a unified stablecoin framework across Jupiter’s DeFi system.