Paxos Co-Founder: USDH Will Become an Asset with a Market Cap Exceeding $10 Billion, Paxos to Provide Global Compliance Credentials

BlockBeats News, September 9 — Paxos Labs co-founder Bhau stated at the 'USDH Stablecoin Roundtable' hosted by Hyperliquid that Paxos Labs is highly suited to collaborate with the Hyperliquid ecosystem. Paxos Labs has a dedicated team focused on Hyperliquid, developing on the platform since day one. Additionally, Paxos is one of the longest-standing compliant stablecoin issuers in the industry and the only entity to hold both a state trust charter issued by the New York Department of Financial Services and a federal charter licensed by the OCC (Office of the Comptroller of the Currency). We believe USDH will become an asset with a market cap exceeding $10 billion, potentially even larger. Only federally regulated entities can issue assets with a market cap of over $10 billion, which is not an easily attainable credential. This is a significant highlight for Paxos Labs. If a globally compliant stablecoin is important to the community, Paxos is currently the only provider in the industry capable of achieving this. BlockBeats previously reported that last Friday, Hyperliquid announced the launch of a 'Hyperliquid-prioritized, Hyperliquid-aligned, and compliant USD stablecoin,' reserving the USDH token code for this purpose. Subsequently, multiple stablecoin issuers, including Paxos, Frax Finance, Ethena Labs, and Agora, have quickly entered the competition for the issuance rights of the USDH stablecoin.