Cointelegraph••1 min read
Jupiter Launches JupUSD Stablecoin Backed by BlackRock's BUIDL Fund
The Arch TakeNeutral
Jupiter has launched JupUSD, a new stablecoin on the Solana blockchain. According to reports, the stablecoin is backed by USDtb and USDC. The new stablecoin is designed to function as a settlement asset within Jupiter's decentralized finance (DeFi) ecosystem. The development leverages BlackRock's BUIDL fund to provide backing for the stablecoin. The launch of JupUSD aims to enhance the functionality and stability of transactions within the Jupiter DeFi stack by providing a reliable settlement option.
📱
Never miss a Web3 update
Join our Telegram channel to receive news in real-time, straight to your phone.
Related News
MegaETH sunsets Mega Mafia accelerator program, noting ‘most’ of its successful apps left
The Block•3h ago
Injective files for SEC transfer agent registration to bring securities ownership records onchain
Cointelegraph•4h ago
JPMorgan says bitcoin outlook sees ‘encouraging sign’ as Strategy boosts cash reserves
The Block•4h ago
Ethereum Researcher Francesco D'Amato Departs EF for Ethlabs
Bankless •4h ago