What Is jupUSD and How Does It Work?

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jupUSD is a decentralized, US dollar–pegged stablecoin introduced by Jupiter, one of the largest DeFi platforms on Solana. It is designed to provide a capital-efficient and on-chain-native dollar asset that can be used across Solana’s DeFi ecosystem for trading, lending, and payments.

Unlike traditional fiat-backed stablecoins, jupUSD is built to integrate deeply with DeFi liquidity and on-chain mechanisms. Its goal is to offer users a reliable unit of account while maintaining transparency, composability, and fast settlement through Solana’s high-throughput infrastructure.

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jupusd feels less like “usd but crypto” and more like infra pretending to be a stablecoin