Paxos, a leading blockchain infrastructure platform, has recently announced an updated bid to issue Hyperliquid’s USDH stablecoin. This development is significant as it involves a partnership with PayPal, a global digital payments platform, which will support the stablecoin launch. The collaboration between Paxos and PayPal aims to introduce a stablecoin that offers seamless payment integration and a unique revenue model tied to the growth of the decentralized exchange (DEX) operated by Hyperliquid.

The USDH stablecoin, which will be issued by Paxos, is designed to maintain a 1:1 peg with the US dollar, providing stability and reliability for users in the cryptocurrency market. This stablecoin will be integrated with PayPal's payment infrastructure, allowing users to transact in USDH easily and securely across various platforms and services.

One of the key highlights of this partnership is the innovative revenue model that is linked to the growth of Hyperliquid's DEX. As the DEX expands and attracts more users and trading volume, a portion of the revenue generated will be used to support the value and stability of the USDH stablecoin. This mechanism creates a symbiotic relationship between the DEX and the stablecoin, incentivizing growth and liquidity in the ecosystem.

The collaboration between Paxos, Hyperliquid, and PayPal represents a significant step towards mainstream adoption of stablecoins and decentralized finance (DeFi) solutions. By leveraging PayPal's extensive network and user base, the USDH stablecoin has the potential to reach a broader audience and gain traction in the digital payments space.

Furthermore, the integration of USDH with Hyperliquid's DEX offers users a seamless experience for trading and exchanging assets within a decentralized environment. The partnership aims to provide users with a secure and efficient platform for accessing a wide range of digital assets while benefiting from the stability and liquidity of the USDH stablecoin.

Overall, the announcement of Paxos's updated bid to issue the USDH stablecoin in partnership with PayPal and Hyperliquid signals a significant milestone in the evolution of the cryptocurrency and blockchain industry. The collaboration between these industry leaders not only showcases the potential for innovation and growth in the DeFi sector but also highlights the increasing interest and involvement of mainstream financial institutions in the cryptocurrency space.

As the adoption of stablecoins and DeFi solutions continues to expand, partnerships like this one play a crucial role in bridging the gap between traditional finance and the emerging blockchain ecosystem. The launch of the USDH stablecoin backed by PayPal and tied to the growth of Hyperliquid

Source: https://cointelegraph.com/news/paxos-partners-with-paypal-and-venmo-in-its-proposal-to-issue-hyperledger-usdh-stablecoin?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound