USDH Stablecoin (USDH) stablecoin analytics
USDH is Native Markets' Hyperliquid dollar stablecoin issued by Bridge (Stripe), redeemable 1:1 against cash, U.S. Treasuries, repos, and tokenized treasuries.
Static Profile
Static stablecoin profile
USDH Stablecoin (USDH) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar.
AI summary / Updated May 15, 2026
Native Markets' USDH on HyperEVM is a Bridge-issued (Stripe) dollar with 40% short-term T-bills at JP Morgan plus tokenized treasuries — a bet on Hyperliquid traction beyond the current niche. USDH sits at $94 million on HyperEVM with one of the more credible reserve...
AI summary · drafted by claude-opus-4-7 · reviewed by @TokenBrice on May 15, 2026 · facts as of May 15, 2026
- Collateral
- Held reserves per the March 2026 attestation: tokenized asset-backed tokens (Superstate USTB ~65%, USDC ~13%), US government money market funds (~22%), and cash and cash equivalents at US-regulated banks (~1%). Eligible reserves per the stablecoin terms also include short-term US Treasury bills (<=3 months), overnight reverse repurchase agreements collateralized by US Treasuries, deposit accounts, and tokenized versions of these assets. Offchain reserves managed by BlackRock and custodied with JPMorgan Chase; onchain reserves managed by Superstate and custodied via Fireblocks MPC infrastructure. Designed by Native Markets, issued by Bridge Building Inc. (a subsidiary of Stripe, Inc., incorporated in Delaware).
- Peg Mechanism
- Direct 1:1 mint/redemption through Bridge Building Inc. (a Stripe subsidiary, FinCEN MSB); fully reserved by cash and cash equivalents, US government money market funds, and asset-backed tokens (Superstate USTB, USDC); monthly independent-accountant (BPM LLP) attestations under the AICPA 2025 Criteria for Stablecoin Reporting (Asset-Backed Fiat Pegged Tokens)
- Jurisdiction
- United States / FinCEN / Money Services Business (Bridge Building, Inc.)
- Proof Of Reserves
- Independent Audit by BPM LLP Reserve source
- Contracts
- 2 deployments tracked across HyperEVM and Hyperliquid L1.
Snippet Answer
Is USDH safe?
Pharos does not mark USDH as absolutely safe. Static metadata says USDH Stablecoin uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from BPM LLP; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usdh-native-markets
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated May 15, 2026.
USDH quick answers
What is USDH Stablecoin (USDH)?
USDH is Native Markets' Hyperliquid dollar stablecoin issued by Bridge (Stripe), redeemable 1:1 against cash, U.S. Treasuries, repos, and tokenized treasuries. The static profile records its US Dollar peg mechanism as: Direct 1:1 mint/redemption through Bridge Building Inc. (a Stripe subsidiary, FinCEN MSB); fully reserved by cash and cash equivalents, US government money market funds, and asset-backed tokens (Superstate USTB, USDC); monthly...
What backs USDH?
Pharos classifies USDH backing as Real-World Asset Backed. Collateral, per the static profile: Held reserves per the March 2026 attestation: tokenized asset-backed tokens (Superstate USTB ~65%, USDC ~13%), US government money market funds (~22%), and cash and cash equivalents at US-regulated banks (~1%). Eligible reserves per the... Reserve evidence: Independent Audit from BPM LLP.
Can USDH be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for USDH, when applicable, appear in the dossier below.