Native Markets Secures Victory in Competition for Hyperliquid Stablecoin USDH, Outpacing Paxos and Competitors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 15 2025
0mins
Should l Buy PYPL?
Source: Yahoo Finance
Native Markets Wins USDH Bid: Native Markets has secured the USDH ticker for Hyperliquid’s stablecoin after a competitive governance vote, defeating Paxos and other contenders, with plans for a phased rollout supported by validator commitments.
Paxos' Revised Proposal: Despite a revised proposal that included deep PayPal integration and a $20 million incentive plan, Paxos failed to gain traction, while criticism arose regarding the governance process favoring Native Markets.
Phased Rollout and Reserve Strategy: Native Markets plans to implement a phased rollout of USDH, starting with limited minting trials, and will manage reserves through BlackRock and Superstate, aiming to support Hyperliquid's growth.
Market Growth Projections: The stablecoin market is projected to exceed $2 trillion by 2028, with Ripple CEO Brad Garlinghouse predicting significant growth, while Western Union shows interest in using stablecoins for remittance modernization.
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Analyst Views on PYPL
Wall Street analysts forecast PYPL stock price to rise
29 Analyst Rating
6 Buy
19 Hold
4 Sell
Hold
Current: 51.220
Low
51.00
Averages
72.86
High
100.00
Current: 51.220
Low
51.00
Averages
72.86
High
100.00
About PYPL
PayPal Holdings, Inc. offers a technology platform. The Company’s products are designed to enable digital payments and simplify commerce experiences for consumers and merchants to make selling, shopping, and sending and receiving money simple, personalized, and secure, online or offline, including mobile. It provides consumers with a digital wallet that enables them to send payments to merchants securely using a variety of funding sources, which include a bank account, a PayPal or Venmo account balance, its consumer credit products, a credit card, a debit card, certain cryptocurrencies, or other stored value products. It operates a global, two-sided network at scale that connects consumers and merchants with 434 million active accounts across approximately 200 markets. Its brands include PayPal, Braintree, Venmo, Xoom, Hyperwallet, PayPal Zettle, PayPal Honey, and Paidy. It offers financing products through the PayPal Working Capital (PPWC) and PayPal Business Loan (PPBL).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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