Native Markets Selected to Issue USDH After Winning Validator Vote

Market News Summary

Hyperliquid's validator community chose Native Markets to issue USDH, concluding a contest with proposals from Paxos, Frax, and others.
Native Markets plans to deploy USDH within days. Their proposal received approximately 70% of the votes.
The launch includes capped mints and redemptions, followed by a USDH/USDC spot pair before lifting caps.
USDH aims to rival Circle’s USDC, which holds nearly $6 billion in deposits on Hyperliquid, about 7.5% of its supply.
Other bidders promised stablecoin yields for ecosystem reinvestment, but Native Markets emphasized credibility and trading expertise.

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