Hyperliquid’s USDH stablecoin officially launched after winning the bid on Native Markets

Native Markets' USDH stablecoin has launched on the Hyperliquid platform, with the USDH/USDC trading pair now open. Initial trading volume indicates a cautious but active start to the market, reaching approximately $2.2 million as the market launches. USDH is the first dollar-pegged token issued through Hyperliquid's validator selection process. It is a stablecoin natively issued on the HyperEVM and can be traded across the Hyperliquid ecosystem. Native Markets won the bid earlier this month, beating proposals from several companies, including Paxos, Frax, and Agora. (The Block)