Hyperliquid’s stablecoin partner decision has been finalized, with Native Markets selected as the issuer of the new USDH token. This marks a significant development in the $160Bn stablecoin sector, with Native Markets proposing to share 100% of stablecoin revenues with Hyperliquid traders and users.

Native Markets, co-founded by industry heavyweights, will issue USDH through Bridge, acquired by Stripe, with BlackRock managing treasury reserves. Fidelity and BNY Mellon are expected to join as custodians, with Superstate handling on-chain asset management within Hyperliquid’s HyperEVM network.

The decision to choose Native Markets over competitors like Paxos has raised questions about the fairness of the process, with some suggesting that the firm may have had advance knowledge of requirements. Nonetheless, this move has the potential to disrupt the stablecoin market and trigger a price war in the industry.

Read more at Yahoo Finance: Dust Settles Over HYPE Price After Hyperliquid Stablecoin Decision