Paxos Unveils USDH Stablecoin, Focused on Hyperliquid Ecosystem Growth

Stablecoin provider Paxos proposes the launch of USDH, a Hyperliquid-first stablecoin designed for compliance with both the US Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) and EU Markets in Crypto-Assets (MiCA) regulations. According to their announcement, 95% of USDH reserve interest will be allocated to buy back Hyperliquid’s native token HYPE, distributing rewards to users, validators, and partner protocols.