Jupiter announced a $35 million strategic investment from ParaFi Capital, its first external capital after years of bootstrapped, profitable growth. The firms said the transaction consisted of market-price token purchases with no discount, featured an extended lockup, and was settled entirely in Jupiter’s JupUSD stablecoin. Other financial terms beyond the $35 million were not disclosed.
Jupiter has handled more than $1 trillion in trading volume over the past year and has expanded beyond swap routing into perpetuals, lending and stablecoins. The investment package also includes warrants allowing ParaFi to acquire additional tokens at higher prices—a structure both parties described as intended to align incentives over the long term.
Product development has tracked the protocol’s growth. In October, Jupiter launched a beta onchain prediction market built with Kalshi, and in January it introduced JupUSD, a Solana-native dollar-pegged stablecoin created in partnership with Ethena Labs. Jupiter’s native token, JUP, traded roughly 9% higher over the previous 24 hours, according to CoinGecko.
The deal is part of a continuing trend of venture capital flowing into decentralized protocols through token-based transactions in 2025 and early 2026. Notable recent examples include a16z Crypto’s $50 million allocation to Jito, a Solana liquid-staking protocol, provided via discounted tokens, and Babylon’s $15 million raise from a16z through a sale of its BABY token to fund onchain infrastructure.
Venture support has also reached beyond DeFi. In September, Bio Protocol, a decentralized science project, raised $6.9 million from investors including Maelstrom Fund and Animoca Brands to build an AI-native blockchain framework for biomedical research. Last year, Humanity Protocol reportedly raised $20 million from Pantera Capital and Jump Crypto at about a $1.1 billion valuation to advance its Proof of Humanity biometric identity system.
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