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Jupiter and Ethena Labs officially announced their partnership to develop JupUSD, a native stablecoin for the Solana ecosystem, as part of Ethena's 'Stablecoin-as-a-Service' program.

JupUSD is scheduled to launch on the Solana network in Q4 2025, following the completion of multiple security audits for its mint-and-redeem smart contracts.

Ethena Labs launched USDtb, the stablecoin that will serve as the initial 100% backing for JupUSD. USDtb is backed by BlackRock's BUIDL fund.

JupUSD was founded and officially launched.