What is JupUSD (JUPUSD)?
JupUSD is a Solana-native stablecoin launched by Jupiter in partnership with Ethena Labs. It is issued using Ethena Labs’ Stablecoin-as-a-Service infrastructure and is backed by reserve assets held in institutional custody. At launch, reserves consist of USDC and Ethena’s USDtb. USDtb is a tokenized dollar backed by tokenized U.S. Treasury exposure and issued under a licensed, GENIUS-compliant framework. JupUSD is minted and redeemed against these reserves through controlled mint-and-redeem mechanisms. JupUSD does not accrue yield to holders.
How does JupUSD work?
Any changes to reserve composition, custody arrangements, or issuance mechanics are disclosed through official Jupiter communication channels. JupUSD is not a yield-bearing stablecoin.