Jupiter Unleashes JupUSD: BlackRock Backed Stablecoin Lands on Solana! 🤯
Jupiter just dropped JupUSD, their native stablecoin built with Ethena Labs $ENA, and the backing is insane. 90% is collateralized by USDtb, which is tied directly to BlackRock's tokenized money market fund, BUIDL. That’s institutional grade stability meeting DeFi speed. 🚀
This SPL token is designed to deeply integrate into the Jupiter ecosystem, powering lending products where deposits instantly mint yield-bearing versions, and eventually replacing $USDC in their perpetuals platform.
This move signals the massive trend of ecosystem-specific stablecoins gaining traction. JupUSD offers superior liquidity and integration within Solana, leveraging BlackRock's underlying assets for trust. The challenge now is winning market share from the giants, but the foundation is rock solid.
#DeFi #Solana #Stablecoin #JupUSD
