Native Markets has announced the official launch of USDH, a new stablecoin designed specifically for the Hyperliquid network. As of September 24, 2025, USDH is now accessible to all Hyperliquid users, marking a milestone in creating a more efficient and aligned dollar alternative within the platform.

The launch features the opening of the USDH/USDC spot order book on HyperCore, Hyperliquid's core trading engine. This move comes after an impressive pre-mint phase, where more than $15 million worth of USDH was generated in the last 24 hours alone. Built directly on the HyperEVM—a high-performance Ethereum Virtual Machine variant—USDH positions itself as a first-class stablecoin tailored to Hyperliquid's architecture.

One of the standout aspects of USDH is its integration with Hyperliquid's Assistance Fund. Native Markets has committed to donating $0.50 from every dollar earned through USDH's reserves to this fund, with the remaining proceeds dedicated to expanding USDH's adoption and utility. This alignment follows the proposed stablecoin framework outlined by Hyperliquid, emphasizing community-driven growth and sustainability. The contributions began accruing on the launch date, underscoring Native Markets' dedication to the ecosystem.

Looking ahead, Native Markets has outlined a phased rollout to fully integrate USDH into Hyperliquid's offerings. Key achievements so far include the deployment of USDH under HIP-1 (Hyperliquid Improvement Proposal) and as an ERC-20 token, alongside the live spot order book. Ongoing work focuses on HyperEVM integrations, with future plans to introduce USDH as a spot quote asset, enable native minting directly on HyperCore, and launch USDH-margined perpetual futures order books through HIP-3.