PANews reported on September 15th that, according to The Block, Hyperliquid's validator community has selected Native Markets as the recipient of the long-term reserved USDH trading ticker symbol. This week-long competition, which attracted bids from numerous major players in the stablecoin and cryptocurrency infrastructure sectors, has concluded. In a post announcing the results, Native Markets stated that it will immediately begin a phased rollout plan, starting with a small-scale minting and redemption test phase, followed by the launch of a USDH/USDC spot trading pair, and ultimately, the removal of the cap. The team views the cap as a safety check before the full rollout and states that relevant activities should begin "within days." According to the proposal, Native Markets' USDH will be issued natively on Hyperliquid's HyperEVM network, with reserves managed by both off-chain and on-chain assets. The proposal also includes a plan to allocate reserve earnings to HYPE repurchases and expand USDH circulation. The stablecoin will be "initially fully backed by an off-chain reserve managed by BlackRock and an on-chain reserve managed by Superstate through Bridge, with cash and U.S. Treasury equivalents."PANews reported on September 15th that, according to The Block, Hyperliquid's validator community has selected Native Markets as the recipient of the long-term reserved USDH trading ticker symbol. This week-long competition, which attracted bids from numerous major players in the stablecoin and cryptocurrency infrastructure sectors, has concluded. In a post announcing the results, Native Markets stated that it will immediately begin a phased rollout plan, starting with a small-scale minting and redemption test phase, followed by the launch of a USDH/USDC spot trading pair, and ultimately, the removal of the cap. The team views the cap as a safety check before the full rollout and states that relevant activities should begin "within days." According to the proposal, Native Markets' USDH will be issued natively on Hyperliquid's HyperEVM network, with reserves managed by both off-chain and on-chain assets. The proposal also includes a plan to allocate reserve earnings to HYPE repurchases and expand USDH circulation. The stablecoin will be "initially fully backed by an off-chain reserve managed by BlackRock and an on-chain reserve managed by Superstate through Bridge, with cash and U.S. Treasury equivalents."
Native Markets Wins Hyperliquid’s USDH Stablecoin Bid, Plans to Enter Testing “Within Days”
PANews reported on September 15th that, according to The Block, Hyperliquid's validator community has selected Native Markets as the recipient of the long-term reserved USDH trading ticker symbol. This week-long competition, which attracted bids from numerous major players in the stablecoin and cryptocurrency infrastructure sectors, has concluded. In a post announcing the results, Native Markets stated that it will immediately begin a phased rollout plan, starting with a small-scale minting and redemption test phase, followed by the launch of a USDH/USDC spot trading pair, and ultimately, the removal of the cap. The team views the cap as a safety check before the full rollout and states that relevant activities should begin "within days."
According to the proposal, Native Markets' USDH will be issued natively on Hyperliquid's HyperEVM network, with reserves managed by both off-chain and on-chain assets. The proposal also includes a plan to allocate reserve earnings to HYPE repurchases and expand USDH circulation. The stablecoin will be "initially fully backed by an off-chain reserve managed by BlackRock and an on-chain reserve managed by Superstate through Bridge, with cash and U.S. Treasury equivalents."
Market Opportunity
Union Price(U)
$0.00313
$0.00313$0.00313
USD
Union (U) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
BlackRock boosts AI and US equity exposure in $185 billion models
The post BlackRock boosts AI and US equity exposure in $185 billion models appeared on BitcoinEthereumNews.com. BlackRock is steering $185 billion worth of model portfolios deeper into US stocks and artificial intelligence. The decision came this week as the asset manager adjusted its entire model suite, increasing its equity allocation and dumping exposure to international developed markets. The firm now sits 2% overweight on stocks, after money moved between several of its biggest exchange-traded funds. This wasn’t a slow shuffle. Billions flowed across multiple ETFs on Tuesday as BlackRock executed the realignment. The iShares S&P 100 ETF (OEF) alone brought in $3.4 billion, the largest single-day haul in its history. The iShares Core S&P 500 ETF (IVV) collected $2.3 billion, while the iShares US Equity Factor Rotation Active ETF (DYNF) added nearly $2 billion. The rebalancing triggered swift inflows and outflows that realigned investor exposure on the back of performance data and macroeconomic outlooks. BlackRock raises equities on strong US earnings The model updates come as BlackRock backs the rally in American stocks, fueled by strong earnings and optimism around rate cuts. In an investment letter obtained by Bloomberg, the firm said US companies have delivered 11% earnings growth since the third quarter of 2024. Meanwhile, earnings across other developed markets barely touched 2%. That gap helped push the decision to drop international holdings in favor of American ones. Michael Gates, lead portfolio manager for BlackRock’s Target Allocation ETF model portfolio suite, said the US market is the only one showing consistency in sales growth, profit delivery, and revisions in analyst forecasts. “The US equity market continues to stand alone in terms of earnings delivery, sales growth and sustainable trends in analyst estimates and revisions,” Michael wrote. He added that non-US developed markets lagged far behind, especially when it came to sales. This week’s changes reflect that position. The move was made ahead of the Federal…
Share
BitcoinEthereumNews2025/09/18 01:44
SICAK GELİŞME: Binance, Üç Altcoini Vadeli İşlemlerde Listeliyor!
Kripto para borsası Binance, ZKP, GUA ve IR tokenlerini vadeli işlemler platformunda listeleyeceğini açıkladı. *Yatırım tavsiyesi değildir. Kaynak: Bitcoinsistemi
Share
Coinstats2025/12/21 16:41
USDC Treasury mints 250 million new USDC on Solana
PANews reported on September 17 that according to Whale Alert , at 23:48 Beijing time, USDC Treasury minted 250 million new USDC (approximately US$250 million) on the Solana blockchain .
Share
PANews2025/09/17 23:51