$USDHstablecoin launches on Hyperliquid, with early trading exceeding $2M
The $USDH/$USDCspot market is live on HyperCore, with over $15M pre-minted in 24 hours
Phased rollout includes HyperEVM integrations, $USDHas a spot quote, native minting, and $USDH-margined perpetuals via HIP-3
$USDHstablecoin is officially live on Hyperliquid, with strong interest from traders and the community.
It has quickly generated over $2 million in early trading volume and is currently trading at $0.99960. With an already impressive volume, this launch represents just the first step in a broader plan to expand $USDHacross the Hyperliquid ecosystem.
How will this new stablecoin reshape the Hyperliquid network? Everyone’s watching.
$USDHGoes Live on HyperEVM
The $USDH/$USDCspot market is now available on HyperCore, with more than $15 million $USDHpre-minted over the past 24 hours. Minted directly on the HyperEVM and aligned with the Assistance Fund, $USDHis built to be a first-class stablecoin for the Hyperliquid network.
Native Market’s founder Max Fiege took to X to share that “the next stage of Hyperliquid’s ascendance will be driven by native stablecoins”, and added that $USDHwill lead the way and support the ecosystem every single day.
$USDHis now live for all Hyperliquid users!
— Native Markets (@nativemarkets) September 24, 2025
The $USDH/ $USDCspot order book is open on HyperCore, with over $15M $USDHpre-minted in the last 24 hours.
According to the proposal, $USDHwill be issued directly on HyperEVM. The stablecoin will be fully backed by cash and U.S. Treasuries, with off-chain reserves managed by BlackRock and on-chain reserves handled by Superstate via Stripe’s Bridge.
$USDH’s reserve earnings are split evenly, with 50% for HYPE buybacks and 50% for ecosystem growth.
Supporting the Assistance Fund
Native Markets shared that, consistent with the proposed aligned stablecoin framework, its contribution to the Assistance Fund will begin accruing from today. The team noted that $0.50 from every dollar earned by $USDHreserves will support the fund, while the rest will be used to grow $USDH.
Phased Rollout and Upcoming Features
Users can expect a phased rollout of $USDHin the coming months.
Users can expect a phased rollout of $USDHover the coming months.
— Native Markets (@nativemarkets) September 24, 2025
?$USDHHIP-1 and ERC-20 deployed
?$USDH/ $USDCspot order book on HyperCore
??HyperEVM integrations underway
??$USDHas a spot quote asset
??Native minting on HyperCore
??$USDH-margined perp order books via HIP-3
HyperEVM integrations are already in progress, and the stablecoin will soon be a quote asset on the spot market. Native minting on HyperCore will also be available soon, followed by $USDH-margined perpetual order books via HIP-3.
Earlier this month, Native Markets secured the winning bid to issue Hyperliquid’s native stablecoin, beating strong competition from Paxos, Frax, Agora, and others.
The team also thanked the community for its support and said that this launch is only the beginning of $USDH’s journey.