Native Markets Secures Governance Win to Issue USDH

[cryptohog]

Native Markets has rolled out USDH following a community vote making it Hyperliquid’s first stablecoin. The project outperformed proposals from major issuers like Paxos and Agora.

Ahead of launch, Native Markets pre-minted $15 million USDH via HyperEVM and coordinated with the network’s Assistance Fund to seed liquidity. The move aims to provide Hyperliquid traders with a stable, on-chain unit of account and strengthen HYPE’s economic base.

[Nahid Hossen]

Launching USDH as Hyperliquid’s first stablecoin gives traders a stable unit of account on-chain.

[Rimon Khan]

Beating out Paxos and Agora shows how much community backing Native Markets has.