US EditionAsia Morning Briefing: Native Markets Wins Right to Issue USDH
Native Markets won 70% of validator votes to issue USDH, a stablecoin with reserves managed by BlackRock and Superstate, aiming to reduce USDC reliance and support Hyperliquid's growth.
- Native Markets won the right to issue USDH on Hyperliquid after a closely watched governance vote concluded on Sunday, September 14, 2025.
- The contest followed an official Request for Proposals and saw major stablecoin issuers like Paxos, Ethena, and others competing before Ethena withdrew on Thursday.
- Native Markets, led by founder Max Fiege and co-founders including ex-Uniswap Labs president MC Lader, plans a phased USDH rollout starting with a capped testing phase limiting transactions to $800 per user.
- Max Fiege announced that Native Markets plans to launch both the USDH stablecoin protocol and its accompanying ERC-20 token shortly, following their recent selection by Hyperliquid validators. Despite concerns over potential conflicts of interest favoring Native Markets, they received approximately 70% of the votes from validators.
- This result highlights intensifying stablecoin competition as USDH aims to challenge USDC's dominance on Hyperliquid, with adoption and liquidity remaining crucial for USDH's future success.
25 Articles
25 Articles
Native Markets Wins USDH Ticker, Says Deployment is Days Away
Native Markets has officially won the USDH ticker for Hyperliquid’s native stablecoin after a closely-watched governance vote that concluded on Sunday. Native Markets’ founder Max Fiege said that both the USDH HIP-1 protocol and the related ERC-20 token will be deployed “within days,” with a limited-cap testing phase set to begin soon. “We have deep respect for all of the teams that submitted proposals and are excited to see them execute on thei…
Asia Morning Briefing: Native Markets Wins Right to Issue USDH
Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.Hyperliquid’s validator community has chosen Native Markets to issue USDH, ending a weeklong contest that drew proposals from Paxos, Frax, Sky (ex-MakerDAO), Agora, and others.Nat…
Native Markets Wins USDH Ticker, To Launch Stablecoin On Hyperliquid - FinanceFeeds
How Native Markets Secured the USDH Ticker Native Markets, a Hyperliquid ecosystem team, has officially secured the USDH stablecoin ticker after a community vote, defeating bids from major players including Paxos, BitGo, Ethena, and Frax. The outcome concluded Hyperliquid’s first major governance contest and drew widespread industry attention. The ticker was awarded by a two-thirds supermajority of staked HYPE tokens, with Native Markets moving …
Native Markets to Issue Hyperliquid’s Stablecoin USDH
The validator community of the Hyperliquid crypto exchange selected Native Markets as the developer and issuer of the USDH stablecoin. The Native Markets team announced its victory in the competition... Сообщение Native Markets Becomes Issuer of Hyperliquid’s Stablecoin USDH появились сначала на CoinsPaid Media.
Native Markets Wins Heated Vote to Launch Hyperliquid’s USDH Stablecoin - Crypto Economy
TL;DR Native Markets secured the USDH ticker for Hyperliquid’s stablecoin after a competitive governance vote involving Paxos and Ethena. The decision came with strong validator backing and heavy support on prediction markets. A phased rollout plan has been announced, featuring reserve strategies involving BlackRock and Superstate, with early minting limits to ensure stability before opening broader market access. The race to control the ticker…
While several competitors competed for the USDH stablecoin issue of Hyperliquid, Native Markets won the bid call. Let's take stock of this large-scale project. The Hyperliquid article (HYPE) chooses the issuer of its USDH stablecoin — Here's what to remember appeared first on Cryptoast.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
