USDH

Overview

USDH is a fiat-backed digital dollar built natively for Hyperliquid. Designed by Native Markets and issued by Bridge Building Inc, USDH delivers a credible, ecosystem aligned, and native dollar solution.

USDH is fully reserved by GENIUS-ready assets such as cash, short-term US treasuries, repo agreements, funds investing in US treasuries and repo agreements (e.g.

, BlackRock TTTXX), and tokenized versions of the same (e.g., BlackRock BUIDL or Superstate USTB). Cash is held in custody at US-regulated banks, TradFi investment assets are held in custody at JP Morgan Chase, and cryptoassets are held in custody in Bridge’s MPC infrastructure, provisioned by Fireblocks.

BPM, a top-40 accounting firm based in San Francisco, reviews and attests to the 1:1 backing of USDH’s reserves each month.

Native Markets contributes 50% of gross revenue to the Hyperliquid Assistance Fund so the protocol can buy back HYPE. The rest of USDH revenue is used to grow USDH and the Hyperliquid ecosystem.