Solana-based infrastructure provider Jupiter has officially launched its own stablecoin, JupUSD, The Block reported on Jan. 5.

Jupiter jointly developed JupUSD with Ethena Labs and will integrate it across its super-app ecosystem.

JupUSD will serve as a core unit of account as Jupiter evolves from a DEX swap aggregator into a super-app with spot and derivatives trading, lending and prediction markets, The Block reported.

JupUSD will be linked to all Jupiter products at issuance. On the lending platform Jupiter Lend, deposited JupUSD will be converted into a reward-accruing token called jlJupUSD. In the liquidity pool Jupiter Perps (JLP), USDC collateral assets will be gradually converted to JupUSD.

Jupiter plans to expand JupUSD use cases to include a "one balance" user experience on its mobile app, collateral for perpetual futures trading and a settlement method for prediction markets.

JupUSD’s underlying assets consist of Ethena-issued USDtb and Circle’s dollar stablecoin USDC. USDtb accounts for 90 percent. USDtb is based on BUIDL, BlackRock’s tokenised dollar money market fund.

Ethena co-founder Guy Young said: "JupUSD is a full-fledged milestone for Ethena’s entry into the Solana market."