JUST IN:Ethena & Jupiter are launching jupUSD, the new Solana native stablecoin.JUPUSD will be issued natively on Solana, enabling seamless integration across DeFi protocols with lower friction and costs.According to The Block, Jupiter plans to “progressively convert” about $750 million of USDC from its Liquidity Provider Pool into JupUSD.Specific design details haven’t been fully disclosed, JUPUSD is expected to follow Ethena’s model of yield-generating, collateral-backed stablecoins.Ethena will now spearh ...

Can stablecoins draw $1T+ from emerging market banks by 2027???Stablecoin adoption in developing economies expected to surge from ~$170B to $1.2T by 2028.Why?People want out of their failing home country fiat currency into the strong USD. While new crypto regulations have tightened the rules for compliant stablecoin issuers from passing on yields from US treasuries, there is still a massive demand for storing wealth.When I was in Argentina in April 2023, the USD/peso ratio was 1/300.Fast forward to today, i ...

Phantom, a leading crypto wallet native to Solana , has announced the launch of Phantom Cash, a superapp for cryptocurrency payments built on Solana and powered by the also just launched US dollar-pegged stablecoin CASH. This September 30 launch intensifies the competition among payment superapps and stablecoins, in what some experts are calling “the stablecoin supercycle” or “stablecoin wars.” Helius co-founder Mert commented on the launch, saying, “The stablecoin wars on Solana are about to heat up. The ...