Hyperliquid Debuts Stablecoin USDH as Rivalry With Aster DEX Heats Up

Hyperliquid has introduced its first native stablecoin, USDH, on the exchange’s HyperCore network, in a move aimed at strengthening its ecosystem as competition among decentralized exchanges intensifies.  Native Markets, the issuer, said more than $15 million USDH was pre-minted within the first 24 hours of launch. https://twitter.com/nativemarkets/status/1970806974737793529 USDH Backed by Cash and Treasuries The new token is minted on HyperEVM and backed by cash and short-term U.S. Treasuries, in line with the GENIUS Act, which sets standards for stablecoin reserves. Native Markets called USDH a “first-class” stablecoin designed to serve as a cornerstone of the Hyperliquid platform. To underscore

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