Profile
USDh profile facts
Hermetica USDh (USDh) static profile: governance model Centralized (CeFi); backing model Crypto-Collateralized; peg US Dollar.
Other coins using the USDh ticker
- USDH Stablecoin (USDH) · Frozen · US Dollar. USDH is Native Markets' Hyperliquid dollar stablecoin issued by Bridge (Stripe).
- Hubble USDH (USDH) · Active · US Dollar. USDH is Hubble Protocol's decentralized Solana stablecoin backed by overcollateralized CDP vaults and USDC held through its Peg Stability Module.
- Collateral
- At the 2026-09-30 14:00 UTC snapshot, Hermetica reported $1,396,969.74 STRCx in a $1,501,041.77 Ethereum Settlement Wallet, $472,573.22 with Copper, $0.00 with Ceffu, $8,036.50 in the Stacks Redeeming Reserve and $100,148.12 Reserve Fund USDC, $2,081,799.60 total vs $1,981,448.18 USDh. On 2026-10-05 it said Clear Street, a U.S. broker-dealer, now executes, settles and custodies reserve securities starting with STRC, per its Transparency Dashboard; report not fully itemized.
- Peg mechanism
- Approved participants mint and redeem USDh against USDC or USDT through Hermetica's KYC-gated primary market. Documentation describes BTC spot and short-perpetual hedging; the September 30, 2026 reserve report also identifies substantial STRCx backing. Redemption can pause for unreliable valuation feeds, but current public disclosures do not establish the exact price-source topology.
- Jurisdiction
- Panama
- Proof of reserves
- Self-Reported PoR by Hermetica custodian attestations Reserve source
- Contracts
- 1 deployment tracked across Stacks.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
USDh quick answers
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What is Hermetica USDh (USDh)?
Hermetica's synthetic dollar on Stacks now has predominantly tokenized STRC digital-credit backing; docs describe a BTC spot-and-short-perpetual basis strategy The static profile records its US Dollar peg mechanism as: Approved participants mint and redeem USDh against USDC or USDT through Hermetica's KYC-gated primary market.
Is USDh safe?
As of Nov 8, 2026, Pharos grades USDh D (46/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and direct redemption is limited to whitelisted primary-market participants. That is a low-band grade, which flags significant structural risk. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs USDh?
Pharos records USDh's reserves as of Sep 30, 2026 as 67.1% STRCx, 22.7% Unitemized Copper custodied assets, 5% Other unitemized Ethereum Settlement Wallet assets, and 2 smaller holdings. Reserve evidence: Self-Reported PoR by Hermetica custodian attestations, latest period ending Sep 30, 2026. Pharos classifies the backing as Crypto-Collateralized.
Can USDh be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem USDh?
Under the route Pharos reviewed on Apr 16, 2026, whitelisted primary-market participants can redeem USDh for USDC and USDT. Settlement takes multiple days. The fee is variable or not fully published. Whether a given holder qualifies is set by the route's own terms, not by this summary.
