$BTC Paxos Proposes USDH Stablecoin to Anchor Hyperliquid Ecosystem and Fund Buybacks
Paxos proposed issuing USDH, a Hyperliquid‑first regulated stablecoin, aimed at accelerating adoption and enterprise integration across the Hyperliquid ecosystem.
The Paxos Labs initiative, backed by Paxos’s decade of regulated stablecoin issuance and recent acquisition of Molecular Labs, would mint USDH natively on HyperEVM and HyperCore, offer multi‑jurisdictional compliance (including MiCA/GENIUS claims), and route onchain and fiat rails for global on/off‑ramps.
Paxos says 95% of interest from USDH reserves would fund HYPE buybacks to reward protocols, validators and users, and that USDH supports native payments, conversion from major stablecoins, and distribution through existing Paxos channels. The proposal emphasizes revenue sharing, enterprise scale, and tighter integration between Hyperliquid and mainstream financial rails, subject to community approval.
