USDH Competition Heats Up As OpenEden and BitGo Round Out The List

September 11, 2025

, By Cointelegraph

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Real-world asset tokenization platform OpenEden and crypto infrastructure provider BitGo have entered the competition to issue Hyperliquid’s planned native stablecoin, USDH, bringing the number of contenders to eight.

Hyperliquid validators will start voting for the USDH proposal from Thursday and will be able to cast their votes until Sunday. Other suitors include Ethena, Paxos, Frax, Agora, Native Markets and Sky.

The winning bid will decide how it will manage Hyperliquid’s $5.9 billion stablecoin reserve, with 95.56% of it held in USDC (USDC),

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USDH Competition Heats Up As OpenEden and BitGo Round Out The List

September 11, 2025

, Published By Cointelegraph

Real-world asset tokenization platform OpenEden and crypto infrastructure provider BitGo have entered the competition to issue Hyperliquid’s planned native stablecoin, USDH, bringing the number of contenders to eight.

Hyperliquid validators will start voting for the USDH proposal from Thursday and will be able to cast their votes until Sunday. Other suitors include Ethena, Paxos, Frax, Agora, Native Markets and Sky.

The winning bid will decide how it will manage Hyperliquid’s $5.9 billion stablecoin reserve, with 95.56% of it held in USDC (USDC),

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Coupang wins $4.6b IPO fraud lawsuit

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India’s IT sector nervous as US proposes outsourcing tax

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