[USDH Officially Launched on Hyperliquid] BlockBeats News, September 24, according to The Block, the stablecoin USDH issued by Native Markets has officially launched on Hyperliquid, with the USDH/USDC trading pair now available. Early trading volume reached approximately $2.2 million, indicating a cautious yet active market debut. USDH is the first USD-pegged token issued through a validator-led selection process on Hyperliquid. The stablecoin is natively deployed on HyperEVM and can be utilized across the Hyperliquid ecosystem. Earlier this month, Native Markets won the bid, defeating competitors such as Paxos, Frax, and Agora. The rollout plan is phased, with the first USDH/USDC spot market launched within days of the proposal's approval. The issuer stated that USDH reserves are fully backed by cash and short-term U.S. Treasury bonds. The initial configuration includes both off-chain management and on-chain components, with transparency provided via oracles. The proposal also outlined plans to allocate a portion of reserve earnings for HYPE buybacks, creating an economic cycle.