USDH Stablecoin Set to Debut as Native Markets Secures 71% Validator Support

Stablecoin wars escalate as USDH prepares for mainnet launch with overwhelming validator backing.

Native Markets locks down 71% consensus—staking its claim in the crowded dollar-pegged arena.

Validator support isn't just numbers—it's trust baked into the protocol from day one.

Another 'stable' coin enters the fray—because what crypto needs most is more dollar proxies, right?

— Bec(@Defibecc) September 15, 2025

Native Markets to Deploy USDH in Days

Following its victory, Native Markets confirmed that it will deploy, alongside an ERC-20 version for Ethereum. Early testing will cap transactions at, before enabling.

According to the team, USDH will be optimized for Hyperliquid’s HyperEVM and tightly integrated with HyperCore, ensuring seamless interoperability.

Why Native Markets Won

The vote took place entirely on-chain between September 11–14, with validators holding the power to decide. Native Markets secured, defeating Paxos (20.88%) and Ethena (3.26%). Notably, Circle and Tether did not participate in the process but reiterated their support for the Hyperliquid ecosystem.

Unlike competitors,. Its proposal outlined several advantages, including:

• Backing reserves split between cash and U.S. Treasuries, held both on-chain via Superstate and off-chain via BlackRock.
• Issuer-independent design, guaranteeing neutrality within Hyperliquid.
• Programmable issuance and redemption, with on-ramp and off-ramp mechanisms.
• Compliance with the GENIUS Act and EU regulations.

Crypto Market Impact

Traders anticipate USDH’s rapid launch could fuelin the NEAR term. The upcoming USDC/USDH trading pair is also expected to accelerate liquidity and adoption across the network.

With this move, Native Markets positions USDH as a regulatory-compliant, liquidity-rich, and Hyperliquid-native stablecoin,  one that could redefine competition in the stablecoin landscape. This is considered a positive news for the whole cryptocurrencies market.

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