Hyper USD
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USDHL to USD converterUSDHL
USD0
USDHLUSDNo chart data available
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$0
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$0
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$0Volume(24h)
$0FDV
$0Circulating Supply
0Total Supply
0Max Supply
$0Infinity Supply
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Stablecoin
Asset-Backed Stablecoin
About Hyper USDHyper USD (USDHL) and USDH are dollar-pegged stablecoins issued by Native Markets for use on Hyperliquid, a leading decentralized perpetual futures exchange commanding over 70 percent of the DEX perpetuals market. USDH reserves are managed by BlackRock and Superstate, with custodial arrangements held with JPMorgan and Fireblocks infrastructure, with every USDH backed by US Treasuries, cash, and cash equivalents with monthly independent auditor attestations. USDH is fiat-collateralized and aims to internalize economic value for Hyperliquid users and validators, with 50 percent of reserve revenue directed to Hyperliquid Assistance Fund for HYPE token buybacks and 50 percent to ecosystem growth. Launched in September 2025 following competitive validator vote, USDH serves as Hyperliquid's primary collateral for perpetual futures and spot trading with seamless fiat on/off ramps via Stripe Bridge. However, in May 2026, Native Markets sold USDH brand assets to Coinbase, which phased out USDH in favor of USDC as primary quote asset, though USDH remains fully operational with feeless conversion options. Adoption depends on liquidity depth relative to USDC, regulatory clarity on protocol-native stablecoins, and ability to maintain yield-sharing mechanics as primary economic differentiator versus incumbent stablecoins.
Assets Details
Access Model
PermissionlessRedeemable
NoAttestations
NoCEX Listed
NoKYC to mint or redeem
NoTransferable
YesSelf Custody
Yes