Odaily Planet Daily reports that stablecoin infrastructure company Paxos has submitted a proposal to launch a compliant stablecoin, USDH, within the Hyperliquid ecosystem, compliant with the GENIUS Act and MiCA regulatory standards. The announcement indicates that 95% of the interest generated by USDH reserves will be used to repurchase HYPE tokens and distribute them to users, validators, and partner protocols.

The initiative is led by Paxos Labs, a newly formed Paxos subsidiary. Paxos has acquired Molecular Labs, the developer of Hyperliquid's foundational components, LHYPE and WHLP. USDH will be deployed on the HyperEVM and HyperCore chains, aiming to attract institutional and mainstream fintech platforms by integrating with global banking channels and compliance systems.

In addition, Paxos said it will integrate HYPE into its brokerage infrastructure, which already provides crypto services for PayPal, Venmo, and MercadoLibre. According to DefiLlama data, Hyperliquid holds a 70% share of the decentralized perpetual futures market, with a trading volume of nearly $400 billion last month and revenue exceeding $106 million. (Cointelegraph)