Ethena and Jupiter Announce Solana Native Stablecoin JupUSD — $750M USDC to Be Gradually Migrated in Q4

Ethena has partnered with Jupiter to introduce JupUSD, a native Solana stablecoin that is scheduled to launch in the fourth quarter. According to reporting, the initiative will position JupUSD as an on‑chain liquidity instrument within Solana’s ecosystem, establishing a new stablecoin option for decentralized applications and market-makers active on the network.

Jupiter has stated it will “gradually migrate” roughly $750 million of USDC from its liquidity provider pool into JupUSD, a phased approach intended to manage transition risk and minimize market disruption. Market participants should monitor on‑chain flows and liquidity depth as the migration proceeds, since the reallocation will materially affect Solana liquidity composition and stablecoin circulation within Jupiter’s pools.