Jupiter opens a USDGO lending market on Solana, with Bitget Wallet built in

A bank-issued dollar token now has its own credit market in Solana's open lending scene.

On Nov. 12, Jupiter launched a dedicated USDGO lending market on Jupiter Lend, according to the USDGO announcement (opens in a new tab). Users can lend USDGO and borrow it against crypto collateral, and the market is built into Bitget Wallet's self-custodial app at launch. That puts it in front of Bitget Wallet's 100 million users, according to the announcement.

USDGO, which the announcement calls a $1.1 billion stablecoin, is issued by Anchorage Digital Bank. OSL Group (HKEX: 863) is its brand operator and distributor.

What came before?

This is step two. On Oct. 12, USDGO became tradeable on Jupiter, bootstrapped by Jupiter Lend Smart Vaults "powered by Fluid's Liquidity as-a-Service." The lending market arrives a month after that DeFi debut.

Kash Dhanda, COO of Jupiter, summed up the setup: "Users can swap it, supply it as liquidity, or borrow it against their assets, on the same platform."

Alvin Kan, COO of Bitget Wallet, said the integration "gives users more ways to put their digital dollars to work, with self-custody remaining at the center of their experience."

What's missing?

Numbers. The announcement gives no deposit or borrowing figures for the new market, so there's no way yet to say how much USDGO is actually being lent.

Why this matters

USDGO is issued by a federally chartered bank, and it can now be lent and borrowed in an open lending market on Solana.