Ethena, a protocol known for developing yield-bearing stablecoin mechanisms, has partnered with Jupiter, a Solana-based decentralized exchange aggregator, to launch JupUSD, a native stablecoin on Solana.

The collaboration expands decentralized finance options on Solana, which has seen similar yield-bearing stablecoin products launch recently. Solstice Finance recently launched USX, a stablecoin designed to offer permissionless access to institutional-grade delta-neutral yields.

Jupiter has been expanding beyond its core aggregator services into liquid staking tokens and institutional integrations. Its native token, JUP, underpins a 21Shares exchange-traded product (ETP) in Europe, providing institutional investors with regulated access to the Jupiter ecosystem.