Native Markets Secures USDH Stablecoin Contract on Hyperliquid

BTCC / BTCC Square / Global Cryptocurrency /

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2025-09-15 05:53:02

BTCCSquare news:

Native Markets has won the rights to the USDH stablecoin ticker on Hyperliquid following a competitive validator vote. The decentralized exchange's decision positions the company to launch a potentially dominant stablecoin in its ecosystem.

The victory came after a heated competition involving major players like Ethena Labs, Paxos, and Frax Finance. Native Markets' issuer-agnostic approach through Bridge technology set it apart from traditional fiat-backed or collateralized models.

Founder max.hl announced plans to deploy USDH HIP-1 alongside an ERC-20 contract, beginning with a capped testing phase of $800 per transaction. The rollout will gradually introduce a USDH/USDC spot order book before full-scale operations.

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