Hyperliquid Teams Up with Native Markets for Strategic Launch of USDH Stablecoin

Jakarta, Pintu News – Hyperliquid’s (HYPE) USDH stablecoin will be launched to the market in the next few days. The launch comes after Native Markets emerged as the winner in the stablecoin’s bidding process.

Native Markets Secures USDH Stablecoin Mandate

A proposal from Native Markets to manage the launch of the USDH stablecoin has been approved by HYPE token holders on the Hyperliquid platform. The win comes despite claims that the company may have benefited from a short proposal submission time and close relationships with validators.

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In a recent post on the X platform, Native Markets co-founder Max Fiege confirmed this development. He revealed that the launch of USDH will be preceded by the implementation of HIP-1 and related ERC-20 contracts, which will come into effect in the next few days.

Before the stablecoin is widely adopted, the team will start a limited trial allowing transactions of up to $800 for each minting or redemption.

In this initial phase, a select number of traders will test the stablecoin’s infrastructure. The trial also includes participation from invited high-volume market participants to test the robustness of the platform’s API.

If the launch is successful, the USDH/USDC spot order book will be added and transaction limits will be removed, allowing unlimited minting and redemption.

The odds of victory for the Native Markets team were previously predicted by Polymarket to be over 90%, indicating that their proposal was backed by strong conviction and momentum.

Strategic Design and Backup Support from Native Markets

Native Markets’ proposal received a positive response from the validators due to its structured approach to reserve management and yield-sharing. Off-chain reserves in the form of cash and U.S. Treasuries will be managed by BlackRock.

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Meanwhile, Superstate-powered by Bridge and Stripe’s proprietary stablecoin system-will handle tokenized backups on the blockchain.

The confidence in the project extends beyond the Hyperliquid network. VanEck’s CEO, Jan van Eck, recently expressed optimism for the Hyperliquid ecosystem as it prepares for stablecoin expansion.

Interestingly, Native Markets has committed to split the proceeds of the reserve evenly between ecosystem development and the Hyperliquid Relief Fund, a decision that is expected to bolster the long-term success of the project.

In addition, the proposal also has the support of experienced experts who have worked at Uniswap Labs, Paradigm, and Polychain.

It is also worth noting that Kraken has confirmed plans to list USDH stablecoin and HYPE native token on its platform, further strengthening the positive sentiment towards the project.

The new stablecoin is a potential competitor to Circle’s USDC, which is currently the most liquid stablecoin on Hyperliquid. However, Hyperliquid said it will still support USDC and other stablecoin assets pegged to the dollar, provided they meet certain requirements.

The requirements include sufficient liquidity depth, strong peg stability, and a minimum HYPE token holding of $10 million. The management of USDH by Native Markets is an important strategic step for Hyperliquid in strengthening its position in the competitive stablecoin market.

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Reference:

• Coingape. Hyperliquid’s USDH Launch Expected In Coming Days As Native Markets Secures Bid. Accessed on September 15, 2025