Key Insights:
Hyperliquid launched its first native stablecoin, USDH, logging nearly $2 million in early trading.
Native Markets, a new startup, won governance rights to manage USDH despite competition from larger players like Paxos and Frax.
USDH is backed by cash and US Treasuries and uses Stripe’s Bridge for reserve management.
Stablecoin markets saw fresh action on Wednesday as Hyperliquid launched USDH, its first dollar-pegged stablecoin.
Early trading on the USDH/USDC market logged about $2.2 million in volume.
Native Markets won issuance rights for USDH in a Sept. 14 validator vote and will manage the token’s reserves.
Notably, Native Markets is a crypto startup backed by investor Max Fiege and ex-Uniswap Labs chief Mary-Catherine Lader
Stablecoin USDH Debuts on Hyperliquid
Hyperliquid opened a USDH/USDC spot market as soon as the stablecoin launched. The new token runs on Hyperliquid’s own HyperEVM blockchain, meaning USDH is issued natively on the exchange
We współpracy z: https://www.thecoinrepublic.com/2025/09/25/hyperliquid-launches-dollar-pegged-stablecoin-usdh/
