USDH Stablecoin (USDH) frozen stablecoin archive
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 Jul 8, 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 that ended in a structured wind-down. USDH built to nine figures on HyperEVM with one of the more credible...
AI summary · drafted by claude-fable-5 · reviewed by @TokenBrice on Jul 8, 2026 · facts as of Jul 8, 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?
USDH Stablecoin is a frozen Pharos archive, not a current safety endorsement. The archived static profile records a Centralized (CeFi) governance model, Real-World Asset Backed backing, Independent Audit from BPM LLP, and notes that issuer or admin freeze controls are recorded.
Next Actions
This record preserves static and historical context; live actions are available only for active assets.
Source: checked-in StablecoinMeta profile fields. This inactive record does not participate in current live monitoring; the summary above was last updated Jul 8, 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...
Is USDH safe?
USDH Stablecoin is a frozen Pharos archive, not a current safety endorsement. The archived static profile records a Centralized (CeFi) governance model, Real-World Asset Backed backing, Independent Audit from BPM LLP, and notes that issuer or admin freeze controls are recorded.
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. USDH is a frozen Pharos archive; the recorded history below is read-only.