Paxos Files Proposal to Issue Hyperliquid’s USDH

Paxos is working on issuing USDH, Hyperliquid’s first native ￰0￱ this end, it has filed a proposal to issue the stablecoin, promising to allocate 95% of interest earnings from the USDH reserves toward HYPE token ￰1￱ tokens will now be redirected to users, validators and partner ￰2￱ Acquires Molecular Labs The blockchain infrastructure plans to make the token fully compliant with the Guiding and Establishing National Innovation for US Stablecoins Act ( GENIUS Act ) and Markets in Crypto-Assets (MiCA) regulatory ￰3￱ announcement which was published on Saturday, reflects Paxos’ plan to accelerate stablecoin adoption within decentralized ￰4￱ is perceived as the leading candidate for validator selection following its acquisition of Molecular Labs and its decade-long stablecoin expertise.

Noteworthy, Molecular Labs is the infrastructure provider behind the LHYPE and WHLP tokens, which have been operational since HyperEVM’s ￰5￱ Issues Stablecoins on Stellar Network It is worth noting that Paxos has a track record of issuing stablecoins for other top companies like Binance, PayPal, Kraken, Robinhood, and ￰6￱ November 2024, it brought its full suite of stablecoins to the Stellar (XLM) ￰7￱ Casparella, CEO and co-founder of Paxos, noted that he is quite enthusiastic about the ecosystem Paxos was drawn to the Stellar network due to its proven track record in scalability and ￰8￱ addition, this was a partnership that could boost financial inclusion in emerging markets by providing stable digital currencies to underserved regions.

Currently, Paxos has achieved a cumulative issuance volume of $160 billion across seven tokenized ￰9￱ the GENIUS Act to Favor the Banking Industry In a related stablecoin discussion, the newly launched GENIUS Act is already becoming controversial for America’s banking sector and leading crypto advocate ￰10￱ Act, which was signed into law by President Donald Trump in July, was designed to create a legal framework for stablecoins, encourage competition, and expand financial access. However, some entities believe that there is still a lot to be fixed in the ￰11￱ of such is the contest between banks and innovators over the future of ￰12￱ concerned parties believe that the law does not fully block stablecoin issuers from offering interest-like ￰13￱ argue that at this rate, the gap could lead exchanges and affiliates to turn stablecoins into investment ￰14￱ may eventually create risks normally tied to bank deposits and credit.