Ethena Bids for USDH With BUIDL-Backed Reserves

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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 reserves […]

from Bitcoin News https://news.bitcoin.com/ethena-bids-for-usdh-with-buidl-backed-reserves/