Jupiter Launches Stablecoin Backed by BlackRock
BITmarkets Team
Jan 08, 2026
In a post shared on X on Monday, Jupiter said that 90% of JupUSD’s reserves will initially be allocated to USDtb, a licensed stablecoin backed by shares of BlackRock’s tokenized money-market fund, BUIDL. The remaining 10% will be held in USDC to support liquidity, including a secondary pool on Meteora.
In a separate announcement, Jupiter explained that JupUSD is issued as an SPL token, enabling seamless integration across Solana-based applications. The reserves are held in custody by Porto through Anchorage Digital and can be verified onchain.
Yield-bearing design and institutional access
Within Jupiter’s lending suite, deposits of JupUSD generate a yield-bearing version of the token, which continues earning returns while remaining usable across features such as limit orders and dollar-cost averaging. The platform also plans to introduce JupUSD into its perpetual futures offering, gradually replacing USDC-based collateral and liquidity pools.
For institutional participants and market makers, Jupiter said JupUSD allows onchain minting and redemption against USDC through single-transaction settlement on Solana. Ethena Labs will oversee reserve management, including custody coordination and asset rebalancing, using segregated onchain addresses and transparent capacity indicators.
Jupiter’s native token, JUP, has gained roughly 18% over the past week, according to CoinGecko data.
Platform-specific stablecoins gain traction
JupUSD arrives amid a broader shift toward application-specific stablecoins, even as the $308 billion stablecoin market remains dominated by USDT and USDC. Throughout 2025, several platforms introduced their own dollar-pegged tokens tailored to internal ecosystems and workflows.
MetaMask announced a US dollar stablecoin in August designed for use across its wallet and the Linea DeFi environment, integrating it into swaps, on-ramps and bridging tools. In September, perpetual futures platform Hyperliquid launched USDH as a native collateral and settlement asset backed by cash and US Treasury equivalents. Klarna followed in November with a dollar-pegged stablecoin on the Tempo blockchain, initially aimed at lowering internal cross-border payment costs.
Most recently, on Dec. 18, SoFi Technologies introduced SoFiUSD, a fully reserved stablecoin built to support low-cost settlement for fintechs, banks and enterprise platforms.
Sources:
https://cointelegraph.com/news/jupiter-jupusd-stablecoin-onchain-settlement-solana
https://x.com/JupiterExchange/status/2008194274362544603