World Blockchain Association Reports: USDH Stablecoin Auction on Hyperliquid Sparks Intense Industry Battle

September 8, 2025 — Geneva, Switzerland – The World Blockchain Association (WBA) reports that a high-stakes competition is underway in the decentralized finance (DeFi) sector, as several leading institutions and crypto-native projects compete for the rights to issue USDH, the proposed native stablecoin of the fast-growing derivatives exchange Hyperliquid. The upcoming auction, which closes on September 10, 2025 (10:00 UTC), has already attracted bids from Paxos, Frax Finance, Agora, Native Markets, and other major players.

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