🪙 Paxos to issue a stablecoin for the Hyperliquid ecosystem
USDH is the first "stablecoin" in the line of the largest decentralized crypto derivatives exchange Hyperliquid. According to the statement, USDH will be fully compliant with the GENIUS Act (USA) and MiCA (EU). It will be backed by high-quality assets such as treasury bonds.
Paxos will direct 95% of interest income from the coin's reserves to the repurchase of $HYPE for further distribution of tokens among users, ecosystem projects and exchange partners.
USDH is intended to increase the attractiveness of Hyperliquid for institutional investors, which may also affect the HYPE token itself, which has recently shown great results.
