Jupiter Announces $35M ParaFi Investment, Deal to Settle in JupUSD

Investment Announcement - Jupiter, a Solana-based decentralized exchange aggregator, announced a $35 million investment in its JUP token from ParaFi Capital, to be settled entirely in JupUSD, Jupiter's stablecoin [1] - The deal closed at the current market price with ParaFi committing to an extended token lockup, although the specific duration was not disclosed [1] JupUSD Details - JupUSD, launched in January 2026, will be used to settle the $35 million transaction and currently has a market cap of approximately $38.7 million [2] - The investment nearly doubles JupUSD's circulating supply and is primarily backed by USDtb, a stablecoin with approximately $859 million in circulation [2] ParaFi Capital Overview - ParaFi Capital manages approximately $1.4 billion in assets and was founded in 2018, with a portfolio that includes multiple investments in the Solana ecosystem [3] - The firm previously invested CAD $27.5 million in Sol Strategies, a company focused on Solana network infrastructure [3][4] Jupiter's Market Position - Jupiter processes over 90% of aggregator volume on Solana and announced in June 2025 that its cumulative trading volume had surpassed $1 trillion [5] - JUP trades at approximately $0.19 with a market cap of $596.6 million, down roughly 91% from its all-time high of $2.00 reached in January 2024 [5]