Bank-issued stablecoin USDGO gets Solana lending market one month after DeFi debut

Jupiter has switched on a dedicated lending market for USDGO, the US dollar stablecoin issued by Anchorage Digital Bank and distributed by OSL Group (HKEX: 863).

The launch, which was announced on Thursday, November 12, enables users to supply the token for yield or borrow it against crypto collateral.

It is the latest step in a slow, staged push by a stablecoin designed for corporate payments into onchain credit.

Since its launch in December 2025, USDGO has made significant strides. It made a debut on Solana in February 2026 and became a trading pool on Jupiter Lend’s automated market maker (AMM) on October 12.

Now it has a dedicated market where it can be lent and borrowed.

How did USDGO go from payment rails to onchain credit?

When OSL Group and Anchorage first mentioned the stablecoin in December 2025, they said it was going to be used for cross-border payments, treasury operations, and onchain settlement, among others. The latest development shows how far the use cases have evolved since then.

Anchorage confirmed that USDGO had officially launched in February 2026. It added that an initial $50 million had been minted and deployed on Solana. Anchorage said in the same post that they plan to deploy other networks in the future.

The first major contact with DeFi came on October 12, 2026, as Jupiter opened USDGO trading liquidity on its Lend AMM that day. The pool was powered by Fluid’s “Liquidity-as-a-Service,” so the token was tradable on-chain from the start.

Jupiter said then that lending was going to come later. The latest launch makes good what it said a month ago.

The Jupiter Lend market and Bitget Wallet’s reach

USDGO holders can earn yield by supplying the stablecoin in the new market per the company’s statement. Borrowers, on the other hand, can draw it down using their existing crypto as collateral through Jupiter Lend.

The market is also wired into Bitget Wallet’s self-custodial app. Users can access USDGO lending and borrowing without handing custody to a centralized platform.

Jupiter’s chief operating officer Kash Dhanda said in the company statement, “Jupiter started out by solving the fragmented trading experience on Solana.”

Dhanda added, “USDGO demonstrates exactly what that looks like. Users can swap it, supply it as liquidity, or borrow it against their assets, on the same platform.”

Bitget Wallet COO Alvin Kan said the tie-up was a way to “put their digital dollars to work, with self-custody remaining at the center of their experience.”

Per reports, there was about $1.27 billion in USDGO on Solana as of October 12, and it is spread across only a few hundred wallets, a pattern consistent with enterprise treasury use. The company’s Thursday statement put the figure at $1.1 billion.

A Cryptopolitan report in July 2026 ranked USDGO as Solana’s second-largest alternative stablecoin. It was behind World Liberty Financial’s USD1, after it passed $1 billion in supply within five months of launch.

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