Jupiter launches JupUSD stablecoin backed by BlackRock’s BUIDL fund

TL;DR:

The Solana-native token is backed by USDtb and USDC and is designed to serve as a settlement asset across Jupiter’s DeFi stack.

Key Points:

Background:

Decentralized Finance (DeFi) refers to financial services built on blockchain networks that operate without traditional intermediaries like banks. DeFi protocols enable lending, borrowing, trading, and earning yield on cryptocurrency assets through smart contracts.

Why It Matters:

DeFi represents a fundamental reimagining of the financial system, offering permissionless access to financial services globally. DeFi developments impact how value is exchanged, stored, and utilized in the crypto ecosystem, driving innovation in financial products and services.