Ethena Bids for USDH With BUIDL-Backed Reserves
September 10, 2025
Ethena Labs has submitted a proposal to operate Hyperliquid’s native USDH stablecoin, outlining a structure that begins with full collateralization in USDtb and a governance-linked security model.
Blackrock, Securitize Ties Featured in Ethena’s USDH Bid for Hyperliquid
The latest bid from Ethena positions USDH as “Hyperliquid-first,” initially backed 100% by USDtb, a stablecoin whose…