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Native Markets Deploys USDH Stablecoin on HyperEVM, Flowdesk Executes First Mint

The deployment follows Native Markets' successful bid to issue Hyperliquid's native stablecoin, backed by US Treasuries.

September 20, 2025

Native Markets Deploys USDH Stablecoin on HyperEVM, Flowdesk Executes First Mint

Companies mentioned:

Hyperliquid

Hyperliquid

Quick Take
  • Native Markets has launched its USDH stablecoin on Hyperliquid's HyperEVM.
  • Digital asset firm Flowdesk performed the first-ever USDH mint transaction.
  • The launch follows Native Markets winning the validator vote to issue the native stablecoin for the Hyperliquid network.

Native Markets has deployed its USDH stablecoin on Hyperliquid's HyperEVM, fulfilling its promise to launch the product within days of its announcement. The first mint transaction for USDH was executed by the digital asset firm Flowdesk.

The launch is a significant development for the Hyperliquid ecosystem, establishing a native stablecoin. Native Markets recently won the validator vote to become the official issuer of USDH, proposing a model where reserves are fully backed by U.S. Treasuries.

This deployment marks the operational start of a key piece of infrastructure for the Hyperliquid network. The integration is designed to be seamless with HyperCore, optimizing USDH for the platform's specific architecture.

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