ExchangeDEX+

Buy Crypto Markets Spot FuturesGOLD Earn Event Center

PANews reported on September 24th that the USDH stablecoin issued by Native Markets has been launched on the Hyperliquid platform, with the USDH/USDC trading pair now open. Initial trading volume indicated a cautious but active start to the market, reaching approximately $2.2 million as the market launched. USDH is the first dollar-pegged token issued through Hyperliquid's validator selection process. It is a stablecoin natively issued on the HyperEVM and can be circulated across chains within the Hyperliquid ecosystem. Native Markets won the bid earlier this month, beating out proposals from several companies, including Paxos, Frax, and Agora. The plan calls for a phased rollout, with the first USDH/USDC spot market launching "within days" of the vote. The issuer stated that its reserves would be fully collateralized by cash and short-term U.S. Treasury bills, with an initial mix consisting of both off-chain and on-chain components, and transparent data provided by oracles. The proposal also outlines an economic recycling mechanism that would allocate a portion of reserve proceeds to buyback HYPE tokens.PANews reported on September 24th that the USDH stablecoin issued by Native Markets has been launched on the Hyperliquid platform, with the USDH/USDC trading pair now open. Initial trading volume indicated a cautious but active start to the market, reaching approximately $2.2 million as the market launched. USDH is the first dollar-pegged token issued through Hyperliquid's validator selection process. It is a stablecoin natively issued on the HyperEVM and can be circulated across chains within the Hyperliquid ecosystem. Native Markets won the bid earlier this month, beating out proposals from several companies, including Paxos, Frax, and Agora. The plan calls for a phased rollout, with the first USDH/USDC spot market launching "within days" of the vote. The issuer stated that its reserves would be fully collateralized by cash and short-term U.S. Treasury bills, with an initial mix consisting of both off-chain and on-chain components, and transparent data provided by oracles. The proposal also outlines an economic recycling mechanism that would allocate a portion of reserve proceeds to buyback HYPE tokens.

Hyperliquid's self-developed stablecoin USDH officially launched after winning the bid on Native Markets

2025/09/24 19:37

Native Markets won the bid earlier this month, beating out proposals from several companies, including Paxos, Frax, and Agora. The plan calls for a phased rollout, with the first USDH/USDC spot market launching "within days" of the vote. The issuer stated that its reserves would be fully collateralized by cash and short-term U.S. Treasury bills, with an initial mix consisting of both off-chain and on-chain components, and transparent data provided by oracles. The proposal also outlines an economic recycling mechanism that would allocate a portion of reserve proceeds to buyback HYPE tokens.

Market Opportunity

Union Price(U)

$0.002513

$0.002513$0.002513

-0.51%

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.