Paxos Co-Founder: USDH to Become a Top 10 Asset with a Market Cap Above $10 Billion, Paxos to Provide Global Regulatory Coverage

BlockBeats News, September 9th, at the "USDH Stablecoin Roundtable" hosted by Hyperliquid, Paxos Labs co-founder bhau stated that Paxos Labs is very suitable for collaborating with the Hyperliquid ecosystem. Paxos Labs has a team dedicated to Hyperliquid and has been developing on Hyperliquid since day one. At the same time, Paxos is one of the longest-standing compliant stablecoin issuers in the industry, holding the distinction of being the only entity issued a state trust charter by the New York Department of Financial Services and also holding a federal charter from the OCC (Office of the Comptroller of the Currency). We believe USDH will become an asset with a market cap exceeding $10 billion, or even larger. Only federally regulated entities can issue assets with a market cap exceeding $10 billion, a qualification not easily obtained. This is also a key highlight of Paxos Labs. If a compliant global stablecoin is important to the community, Paxos is currently the only provider in the industry able to achieve this.

BlockBeats previously reported that last Friday, Hyperliquid announced the launch of a "Hyperliquid-prioritized, Hyperliquid-aligned, and compliant USD stablecoin," and has reserved the USDH token code for this purpose. Subsequently, several stablecoin issuers, including Paxos, Frax Finance, Ethena Labs, and Agora, have rapidly entered into competition for the USDH stablecoin issuance rights.