HYPERLIQUID'S HOME-GROWN STABLECOIN USDH GOES LIVE

Summary from the TLDR Crypto newsletter

USDH, issued by Native Markets, has officially launched on Hyperliquid with a USDH/USDC spot market and ~$2.2M in early trading volume. Backed by cash and short-dated Treasuries, USDH was selected through Hyperliquid's validator-run process, where Native Markets beat out Paxos, Frax, and others. Reserves will combine offchain management with onchain transparency via oracles, while a portion of reserve earnings will fund HYPE buybacks.