USDH Makes History as Hyperliquid’s First Native Stablecoin Launch

Hyperliquid's ecosystem just got its homegrown stablecoin—and it's already making waves.

Native Markets' USDH stablecoin has officially become the first native digital dollar built directly on Hyperliquid's infrastructure. This isn't just another stablecoin addition—it's a fundamental upgrade to the chain's DeFi plumbing.

Deep Infrastructure Integration

The launch represents more than token deployment. USDH's native status means deeper liquidity integration, reduced slippage for traders, and native yield opportunities that external stablecoins simply can't match.

While traditional finance still debates stablecoin regulation, Hyperliquid's move demonstrates how DeFi infrastructure continues evolving at lightspeed—leaving legacy systems looking like they're moving in reverse.

This native integration could finally give Hyperliquid the monetary foundation it needs to compete with established Layer 1 chains. Because nothing says 'serious DeFi chain' like having your own stablecoin—except maybe having one that doesn't lose its peg.

Expanding Hyperliquid’s Financial Infrastructure

USDH is currently running as an ERC-20 token on, strengthening the platform’s native financial infrastructure. The stablecoin is backed by a:

• Off-chain reserves are managed by BlackRock and backed by U.S. cash and short-term Treasuries.
• On-chain reserves are overseen by Superstate, operated via Stripe’s Bridge system.

This hybrid model ensures transparency throughvia blockchain oracles.

The introduction of USDH was approved through ainvolving major industry players including.

USDH’s Phased Rollout with New Value Model

USDH is being rolled out in stages. In its test phase, trading was capped atfor a select group of users to ensure stability before full release.

Unlike traditional staking models, yield from USDH reserves will be allocated toand, creating a new framework for value redistribution.

With USDH and USDC launch, Hyperliquid strengthens its, enhances liquidity, and positions itself to attract a wider range of users. The adoption of USDH is seen as a critical step toward integrating traditional finance with decentralized platforms.

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