Paxos Backs USDH Stablecoin for Hyperliquid

Paxos has formally proposed launching a USDH stablecoin tailored for the Hyperliquid ecosystem, offering full compliance with MiCA and the U.S. GENIUS Act. Notably, 95% of yield generated from USDH reserves will be allocated towards buying back Hyperliquid’s native token, HYPE, benefiting active users, validators, and partner protocols—reinforcing ecosystem value and sustainability.