The cryptocurrency platform Hyperliquid ignites a bidding war for USDH issuance rights

ChainCatcher news, according to Jin10, a "bidding war" for stablecoins is underway on Hyperliquid, one of the fastest-growing platforms in the cryptocurrency space, vying for the right to issue USDH. USDH is a new token pegged to the US dollar, with participants in the bidding including Paxos, Agora, Ethena, and the startup Native Markets. Stablecoin issuers not only mint digital dollars but also earn interest income from the underlying assets, and the market expects interest rates to decline this week, making the expansion of market share more urgent.