Native Markets Secures USDH Stablecoin Launch on Hyperliquid After Competitive Race

Native Markets has emerged victorious in the battle to launch Hyperliquid's USDH stablecoin, securing the coveted ticker through a community-driven governance process. The decision involved HYPE stakers and network validators evaluating multiple proposals for Hyperliquid's native stablecoin.

The competition drew heavyweight contenders including Paxos, FRAX Finance, Sky, and Agora, with other notable participants like Ethena and Curve either withdrawing or failing to gain sufficient traction. Native Markets expressed gratitude to the Hyperliquid community while acknowledging the quality of competing proposals.

The USDH rollout marks a significant milestone for Hyperliquid's perpetual futures DEX ecosystem, with Native Markets now positioned to execute its vision for the stablecoin's integration and utility.