The infrastructure provider for stablecoins Paxos has presented a proposal to launch USDH — the first "stable coin" in the lineup of the largest decentralized cryptocurrency derivatives exchange Hyperliquid.
According to the statement, USDH will fully comply with the requirements of the GENIUS Act (USA) and MiCA (EU). Its backing will consist of high-quality assets such as treasury bonds.
Paxos will direct 95% of the interest income from the reserves of the coin to buy back HYPE for further distribution of tokens among users, ecosystem projects, and exchange partners.
