When Native Markets secured the right to deploy USDH eight months ago, we had a simple thesis: people care about stablecoins that deliver value to the networks and their users. Today, we see a validation of that thesis with Coinbase deploying native USDC as an AQA that shares the vast majority of its reserve yield. This transition to Coinbase immediately activates yield on nearly $5B worth of stablecoins and aligns Hyperliquid with one of crypto’s strongest policy advocates. I'm proud of what @fiege_max and our entire team have built to date — designing the Open Issuance product alongside the Bridge team, building an exceptional onramp with USDH.com, and beyond. To those that supported USDH, thank you for your vote of confidence. There’s more to come, stay tuned.

Best on-ramp available at the moment

Initiated the transfer from USDH.com 19:48 and received it in my @IBKR USD account at 20:37. Zero fees. Less than 60mins to clear. (probably faster for banking hours) With named payouts allowing you to receive transfers in your name, this makes @nativemarkets one of the best on/off ramp in crypto. Prior to this, I had to route stables to off-ramp entities wait for T 1 to receive it in a bank then wait for another T 1/2 to get stables over to IBKR with fees. Now you can do it at 0 fee from HL<> IBKR with USDH<>USD

USDH has reached an all-time high of $100M supply on Hyperliquid.

This morning we launched our zero-fee on & offramp. Users can now go directly from their bank or brokerage to Hyperliquid. No need for a centralized exchange. Try it out at dashboard.usdh.com

Absolutely incredible Finally good, reliant, zero fee on & offramp One of the biggest pain points just got solved

As an early beta tester for a few months, I can confidently say that Hyperliquid Native Markets have obsoleted CEX’s for me. Hyperliquid provides the superior trading experience while NM gives me zero fee USDH <> USDC conversions wire transfers to and from my bank.

Many have told me it would take a long time for a fiat onramp onto Hyperliquid to be built. It’s here now.

Depositing onto Liquid has been a very difficult process for many. Today's announcement by @nativemarkets is a big step towards fixing this! Working with @Mclader and team has been a delight, and I'm sure this will be incredible.

HIP-4 outcome contracts settle exclusively in USDH. Not USDC. Every prediction market on Hyperliquid becomes a structural demand driver for USDH. Moreover, PM capital on Hyperliquid doesn't sit idle. It cross-margins into perps. That incremental perp volume flows naturally into USDH quoted markets, where taker fees are 20% lower and maker rebates 50% higher. I'm expecting USDH supply to expand much faster once HIP-4 mainnet arrives.

pmUSDH unlocks new ways to use USDH — more optionality for users ❤️‍🔥

the nonbelievers were holding on to the belief that stablecoins were a niche crypto trading phenomenon. and yet supply is currently hitting all time highs. stablecoins are unambiguously moving beyond trading and becoming core financial infrastructure.

Oil has become the momentum trade of choice on Hyperliquid, the crypto exchange fast emerging as a round-the-clock venue for leveraged commodity bets. bloomberg.com/news/articles/…

New episode with @jchervinsky and @Mclader out now! We discuss: - Hyperliquid's 24/7 markets - The Hyperliquid policy center - How @nativemarkets won USDH - Stablecoins, 2026 regulation & more! Timestamps: 00:00 Introduction 02:45 The Hyperliquid 24/7 Markets Thesis 06:02 Founding The Hyperliquid Policy Center 15:45 The State of DeFi Regulation 18:59 ZKsync Ad 19:34 The Hyperliquid USDH Proposal 29:59 Stablecoin Regulation In The US 38:05 The Hyperliquid 24/7 Markets Thesis 44:40 The Future of Stablecoins 57:53 Crypto Regulation In 2026 & Beyond

Unified balances. Seamlessly trade USDC and USDH perps from one balance without having to convert. Only on Liquid.

Afternoon vibe coding activity of the week, setup a MM bot to trade @nativemarkets pairs on Hyperliquid and it took ~5 minutes for my bot to do the following 1. Flag it was running low on USDH inventory (got filled on asks) 2. Withdraw USDC to Arbitrum 3. Send USDC to my Native Markets mint account 4. Receive USDH on Hypercore 5. Restart my orders on the ask side All of this was done exclusively via API's, no manual intervention necessary at any step. The future of stablecoins, payments, trading and global financial markets is happening on Hyperliquid and its happening now

Great for Hyperliquid, great for DeFi. HPC is in the right hands with Jake. Excited to keep working closely with @jchervinsky

I’m excited to support the @HyperliquidPC launch. The Hyperliquid ecosystem needs a policy voice that represents our core values in DC. I’ve gotten to know @jchervinsky and seen his principled and unwavering support of defi over the years. There is no better person to advocate for Hyperliquid and defi broadly in this critical time in policy discussions. HPC will champion the message that Hyperliquid and defi align with core American values: transparency, fairness, and financial freedom for all. Since the chain’s genesis three years ago, Hyperliquid has pushed the limits of decentralized financial infrastructure. It’s been an honor to work with such a passionate and diverse group of builders toward the ambitious goal of housing all of finance in a fair and transparent system. However, this decentralized stewardship and development meant that Hyperliquid lacked a unified voice in important policy discussions until now. At this point, Hyperliquid has grown to where “housing all of finance” is more than a tagline. There is a tangible and urgent possibility of upgrading the tech stack of the existing financial system, bringing immense value and accessibility to everyone. Democratizing finance requires education and advocacy for laws that protect users and builders alike. Global financial regulation will be shaped in the United States, and we must work to ensure that these new policies thoughtfully embrace the potential of the new financial system enabled by Hyperliquid. I’m confident that the team at HPC will take on this challenge and push for a clear, regulated path for defi to thrive.

Hypurr goes to Washington

me and my USDH purse against the world