Jupiter Lend, a lending platform in the Solana ecosystem, launched the USDGO stablecoin lending market on November 12. Users can stake USDGO to earn interest or borrow funds by using crypto assets as collateral. USDGO is issued by Anchorage Digital Bank in the U.S., with Hong Kong-listed OSL Group serving as the operator and distributor; its reserves consist of U.S. Treasury bonds. OSL offers professional investors an annualized yield of approximately 3.24%, while the Jupiter lending market allows other holders to earn returns based on the interest rates set by borrowers. The self-custody wallet Bitget Wallet has integrated this lending market during the same period, allowing its approximately 100 million users to participate without leaving the wallet interface.
The supply of USDGO nearly doubled to $900 million by July, and its current market capitalization stands at nearly $1.1 billion, down from $1.29 billion in mid-October. The token is competing for market share with industry leaders such as USDT and USDC.
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