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Ethena Partners With Jupiter Protocol To Issue JupUSD
Ethena Partners With Jupiter Protocol To Issue JupUSD. Photo By Pawel Czerwinski On Unsplash.
Ethena has announced it is partnering with Jupiter protocol to issue its own stablecoin JupUSD.
The company is enhancing its Stablecoin-as-a-Service offering to DeFi protocol Jupiter and its Jupiter Lend services for user lending and borrowing, with a $780M TVL and $480M in earn deposits. The native stablecoin JupUSD will be backed by USDtb (reserved using BlackRock's BUIDL Fund), in a similar model to Ethena's other whitelabelling products in recent weeks.
Ethena posted the announcement on its official X page:
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