The Block••1 min read
Jupiter Launches JupUSD Stablecoin Backed by BlackRock and Ethena's USDtb
The Signal TakeNeutral
Jupiter has launched its native stablecoin, JupUSD, which is backed by BlackRock's tokenized USD Institutional Digital Liquidity Fund and Ethena's USDtb. According to reports, the stablecoin is backed 90% by BlackRock and Ethena's USDtb. The development marks Jupiter's entry into the stablecoin market. Stablecoins are a type of cryptocurrency designed to maintain a stable value relative to a reference asset, such as the U.S. dollar, and are often used in decentralized finance (DeFi) applications and as a safe haven asset in cryptocurrency trading.
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