Jupiter, the Solana-based decentralized finance platform, has partnered with crypto asset manager Bitwise Asset Management and decentralized lending infrastructure protocol Fluid to launch an Ethena (USDe) focused lending market on the Jupiter platform.

 

The partnership will see the launch of an institutional grade USDe lending market on Jupiter’s lending platform, with Bitwise serving as the curator of the new market, setting risk parameters and overseeing operations, while Fluid powers the lending infrastructure.

 

 

By assigning USDe lending curation responsibilities to Bitwise, a traditional finance asset management firm, Jupiter aims to achieve institutional grade credibility and easier access to large scale institutional capital, with the potential for the market to grow into the billions of dollars.

 

“USDe is an institutional grade savings product built for scale. By combining Jupiter Lend's advanced lending infrastructure with Bitwise's asset management expertise, we have created an efficient USDe market ready for DeFi and institutional adoption,” said Guy Young, founder and chief executive officer of Ethena Labs.

 

Before now, institutional capital and DeFi lending mostly operated separately. However, with the launch of this USDe lending market for institutional access, all entities involved, including TradFi and DeFi participants, can work together: Jupiter providing the lending market, Bitwise curating the market, Ethena supplying the asset, and Fluid powering the infrastructure.

 

“Now more than ever, it is imperative that we take DeFi risk seriously. That is precisely why we are excited to partner with Bitwise, who bring both the expertise and the institutional credibility needed to help scale on chain lending from a niche into the default way to do finance,” said Kash Dhanda, chief operating officer of Jupiter.

 

“And by working with Ethena and Fluid, two of the most technically innovative teams in the space, we are thrilled to deliver a product experience like no other.”

 

Institutions Double Down on DeFi

With DeFi growing rapidly and its TVL reaching new highs of around $150 billion to $225 billion in 2025, there has been an increase in the number of institutions entering and doubling down on DeFi.

 

Institutional capital reportedly made up around 11.5% to 20% of DeFi volume or lending TVL in parts of 2025, with institutions like BlackRock, Bitwise, and JPMorgan Chase doubling down on real world asset tokenization and stablecoins.

 

Jupiter, Solana’s leading DEX aggregator, has just raised the bar with the launch of Ultra V3, a next-generation upgrade that promises the fastest, most reliable, and most secure trade execution on Solana to date.

This isn’t just an update. It’s a statement: Jupiter wants to redefine what’s possible for on-chain trading.

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What Makes Ultra V3 Different

• Iris Router: At the core is Iris, a “meta-aggregator” that combines routes from JupiterZ, DFlow, Hashflow, OKX and more, ensuring traders get the absolute best possible price every time.

• Guaranteed Execution: Every quote is live-simulated before execution, so traders get what they see — not unexpected slippage.

• Lightning Speed: With ShadowLane, Jupiter’s private execution layer, trades confirm in as little as 50-400 ms. That’s institutional-grade speed in a decentralized environment.

• Gasless Swaps: Users can trade without worrying about holding SOL for fees. The system seamlessly covers costs from the trade itself.

• Unmatched Protection: With ~34× stronger sandwich-attack protection than competitors, Jupiter is putting MEV bots on notice.

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Why This Matters

Jupiter Ultra V3 is more than an upgrade... it’s an inflection point for DeFi on Solana. Faster, safer, and more transparent execution doesn’t just benefit power users; it makes decentralized trading viable for mainstream adoption.

For institutions, it means confidence in execution. For everyday users, it means no more frustrating failed swaps or hidden costs. For Solana, it’s a signal that the ecosystem is maturing into the fastest, most efficient layer for real DeFi innovation.

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The Bigger Picture

DeFi is competitive, and execution quality is now the battleground. With Ultra V3, Jupiter has positioned itself not just as Solana’s go-to aggregator, but as a global leader in on-chain trading infrastructure.

This release could spark a wave of new activity on Solana with deeper liquidity, higher volumes, and more confidence from both retail traders and institutions looking for an edge.

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Bottom Line

Ultra V3 isn’t just an upgrade. It’s Jupiter declaring that Solana trading can be faster, cheaper, and safer than ever before.

 

For anyone trading on Solana, from casual swappers to high-volume desks, this could be the moment to take a second look at Jupiter.