Hyperliquid Selects Native Markets for USDH Stablecoin Issuance, HYPE Price in Focus

Hyperliquid's derivatives exchange has finalized its stablecoin tender, with users voting to appoint Native Markets as the issuer of the new USDH token. The decision, reached on September 15, marks a pivotal moment for the $160 billion stablecoin sector.

Native Markets, a startup co-founded by industry heavyweights including Max Feige and former Uniswap Labs president Mary-Catherine Lader, will issue USDH using infrastructure acquired by Stripe. BlackRock will initially manage treasury reserves, with Fidelity and BNY Mellon expected to join later.

The MOVE has sparked analyst speculation on HYPE's price trajectory, as the token consolidates following the announcement. Market participants are watching whether USDH's institutional backing will drive adoption and liquidity for Hyperliquid's ecosystem.