Who Could Win Hyperliquid Stablecoin Bid? Paxos, Frax, or LayerZero?

Hyperliquid, a decentralized exchange and layer-1 blockchain, has unleashed one of the most competitive battles in DeFi. The project is on the watch for the right partner to issue USDH, its native stablecoin. About 5.5 billion in USDC deposits is on the line, and the winner could unlock around $220 million annually from U.S. Treasury

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