JUPUSD is a crypto-backed US dollar stablecoin. It has about $47.5M in circulation, ranking #75 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is JUPUSD?
JUPUSD is a crypto-backed US dollar stablecoin. It has about $47.5M in circulation, ranking #75 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: JupUSD is a Solana-native, reserve-backed stablecoin pegged to the U.S. dollar, built by Jupiter in partnership with Ethena.
JUPUSD supply history
JUPUSD supply grew 0.7% over the past 30 days, to $47.5M. Its peak was $82.7M in April 2026, and supply is 43% below that high.
Is JUPUSD holding its peg?
JUPUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where JUPUSD lives: supply by blockchain
Supply is concentrated: Solana holds 100% of all JUPUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How JUPUSD is backed
JUPUSD is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Minting and redemption: JupUSD is minted and redeemed against reserve assets held in custody - primarily Ethena's USDtb and USDC. Direct minting and redemption are available to onboarded and whitelisted partners, KYC’d market makers, and institutional participants.
Reserve reports and audits: docs.jup.ag
JUPUSD risks
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
With $47.5M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
JUPUSD vs USDT and USDC
Similar crypto-backed stablecoins
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JUPUSD FAQ
What is JUPUSD?
JUPUSD is a crypto-backed US dollar stablecoin. It has about $47.5M in circulation, ranking #75 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is JUPUSD pegged 1:1 to the US dollar?
JUPUSD targets 1 USD. At the last update it traded at $0.9989, a deviation of -0.11%, which we classify as "on peg".
What backs JUPUSD?
JUPUSD is a crypto-backed stablecoin. JUPUSD is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Which blockchains is JUPUSD on?
JUPUSD is live on 1 blockchain. The largest by supply are Solana ($47.5M).
How much JUPUSD is in circulation?
About $47.5M of JUPUSD was in circulation at the last update, +0.7% over 30 days. That makes it the #75 stablecoin by supply among those we track.
Is JUPUSD safe?
No stablecoin is risk-free. As a crypto-backed design, JUPUSD's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. Its supply is small, so liquidity can be thin. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.