Jupiter just rolled out JupUSD, a new stablecoin that's reshaping how settlement works across its ecosystem. Collaborating with Ethena on this one.

Here's what makes it different: JupUSD is reserve-backed, meaning it's got real assets sitting behind it—specifically 90% backed by USDtb through Securitize partnerships. This isn't your typical stablecoin setup. The goal is to serve as a proper settlement layer within Jupiter's whole stack, not just floating around as another token.

The reserve structure is the real story here. By anchoring to USDtb with that level of backing, it's designed to give users actual confidence in the mechanism. For anyone building on Jupiter or moving value across the ecosystem, having a settlement layer that's this transparent could change the game on execution velocity and trust.