Native Markets has secured the right to issue the stablecoin USDH on the Hyperliquid platform, strengthening its position in the decentralized finance (DeFi) space.
Securing the Right to Issue USDH
As of September 14, 2025, **Native Markets** secured a validator vote to issue **USDH** on **Hyperliquid**. This decision follows a comprehensive vote, with decisive backing from top validators and essential community stakeholders.
Support Surges to 71.88%
Support for Native Markets surged from 53% to over 71.88% after notable endorsements. This shift indicates strong community confidence, which is expected to positively influence the broader DeFi landscape.
Stablecoin Issuance Competitions
Stablecoin issuance contests, like those seen by **MakerDAO**, provide a precedent for such validator-driven events. Concerns about centralized influences remain a topic of debate, as noted by Nick van Eck, CEO of Agora, stating, "Concerns about Stripe's influence over Hyperliquid’s economic independence remain a sticking point."
The acquisition of the right to issue USDH signals a strategic shift for Native Markets within DeFi, potentially altering liquidity dynamics in the market and posing new challenges for established stablecoins.
