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Stripe Faces Rival Bids for Hyperliquid’s USDH Stablecoin Issuance
Stripe Faces Rival Bids for Hyperliquid’s USDH Stablecoin Issuance
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BTCCSquare news:
Stripe's bid to issue Hyperliquid’s USDH stablecoin faces mounting competition from crypto firms including MoonPay, Agora, and Paxos. The Hyperliquid team emphasized the need for a "Hyperliquid-first" stablecoin, with Native Markets proposing Stripe’s Bridge as issuer—a plan met with immediate pushback.
Agora CEO Nick Van Eck criticized Stripe’s potential conflicts of interest, citing its Tempo blockchain project as a threat to Hyperliquid’s user base. "How long until Stripe diverts users to Tempo?" Van Eck questioned, while MoonPay committed to supporting USDH across its infrastructure from launch.
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