Ethena partners with Jupiter to launch native Solana stablecoin JupUSD

According to Jinse Finance, TheBlock reported that Ethena Labs is collaborating with Jupiter to launch JupUSD, a native stablecoin based on Solana, which will be integrated into the entire Jupiter ecosystem. As part of the protocol, Jupiter plans to "gradually convert" approximately $750 million USDC from its liquidity provider pool into JupUSD.