Hyperliquid Launches USDH Stablecoin from Native Markets
Date: 2025-09-25 Author: Gabriel Deangelo Categories: BUSINESS
The USDH stablecoin, issued by Native Markets, has launched on the Hyperliquid platform. On the first day, users gained access to the USDH/USDC pair, with trading volume reaching approximately $2.1 million.
USDH became the first stablecoin implemented on the HyperEVM network based on the platform's validators' decision. The token's launch expanded the Hyperliquid ecosystem and created additional opportunities for market participants.
Earlier, in early September, Native Markets won the competition to issue the new stablecoin. Its proposal proved more compelling than proposals from players such as Paxos, Frax, Agora, and several others.
The issuing company stated that USDH is fully backed by liquid assets—cash and short-term US Treasury bonds. Oracles are used to confirm the transparency of the reserves. It is also noted that a portion of the profits generated from managing these reserves will be used to buy back HYPE tokens, which could positively impact the project's ecosystem.
The launch of USDH coincided with the rapid growth of the stablecoin market. According to CoinGecko, the total market capitalization of this segment has exceeded $299 billion, highlighting the high demand for such instruments among crypto industry participants.
Interestingly, as early as mid-September, a blockchain researcher using the pseudonym "MLM" recorded test USDC transfers on the HyperEVM network. This signaled the platform's preparation for larger-scale moves in the stablecoin space.
Therefore, the launch of USDH can be seen as an important step for Hyperliquid's development and strengthening its market position. The new stablecoin not only expands the range of available instruments, but also demonstrates the company's commitment to integrating solutions focused on transparency and sustainability.
