Solana’s leading DEX aggregator Jupiter is launching JupUSD to serve as the backbone of its ecosystem in partnership with Ethena Labs. Jupiter, a decentralized trading platform on Solana, has announced plans to launch its stablecoin in partnership with Ethena Labs. The new token, called JupUSD, is scheduled to go live in mid–Q4 2025. According to an X post on Wednesday, JupUSD will be integrated across all Jupiter products, serving as collateral on its perpetual futures exchange, a liquidity asset in Jupiter’s lending pools and a trading pair. According to Jupiter, the stablecoin will be 100% collateralized by Ethena Labs’ USDtb, a dollar-pegged token backed by short-term US Treasury assets. Over time, USDe, Ethena’s synthetic dollar, will be added as collateral to optimize yield rates. Read more
Crypto exchange Gemini is expanding its offering in Australia with a local entity and team, and plans to sit back and watch the country’s consultation on crypto laws. US crypto exchange Gemini is set to expand its offerings in Australia with the launch of a new locally registered entity, and is taking a wait-and-see approach to recent draft laws expected to broaden oversight of the crypto sector. Gemini’s head of Asia Pacific, Saad Ahmed, told Cointelegraph that Australia’s crypto penetration is “quite significant, somewhere in the range of 23 to 25%” which leaves the exchange with “headroom for growth.” On Thursday, the exchange said it created a local entity registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), the country’s financial intelligence agency, enabling it to provide access to local payment rails. Read more