Hyperliquid Network has announced the launch of its stablecoin, USDH, following a successful vote from network participants. The rollout of the new asset will be managed by Native Markets.
Plans for USDH Launch by Native Markets
Native Markets received approval from network validators to launch USDH. Max Fiege, co-founder of Native Markets, confirmed on his X account that USDH HIP-1 and ERC-20 contracts will soon be enacted.
Management of USDH Reserves
The introduction of USDH will include a controlled testing phase with selected investors and high-volume users. This will be followed by the enabling of the USDH/USDC trading pair and subsequently lifting transaction caps.
Impact of USDH on the Digital Currency Market
The strategic cooperation between Hyperliquid and Native Markets in launching USDH is expected to significantly impact the digital currency landscape. Key objectives include facilitating trading pairs between USDH and USDC and promoting collaboration with industry leaders like Uniswap Labs and Paradigm.
The launch of USDH is poised to attract attention to Hyperliquid Network, strengthening its position in the cryptocurrency space through innovative reserve management and partnerships with key market players.
