OpenEden and Hyperliquid: A Unified Vision for USDH Stablecoin Issuance

OpenEden Proposes Strategic Collaboration for USDH

OpenEden, a leading force in Real-World Asset (RWA) tokenization, has unveiled an ambitious proposal to take the reins on issuing USDH, the native stablecoin of Hyperliquid, a decentralized perpetual futures exchange (DEX). This partnership centers on positioning USDH as a premier institution-grade stablecoin while funneling all generated revenues back into Hyperliquid’s ecosystem to amplify its growth and resilience.

Central to the proposal is OpenEden’s meticulous regulatory and financial infrastructure, which will be utilized to establish USDH with unparalleled credibility and security. Revenue from USDH issuance and operations will be reinvested entirely into Hyperliquid, directly enhancing token value and propelling the ecosystem’s long-term sustainability.

OpenEden’s Regulatory Credibility in Stablecoin Issuance

Since its establishment in 2022, OpenEden has emerged as Asia’s largest on-chain issuer of U.S. Treasury-backed digital assets, securing regulatory compliance as a cornerstone of its operations. The company is licensed under the Bermuda Monetary Authority (BMA) with a Class M Digital Asset Business License, enabling the issuance of stablecoins like USDO and tokenized funds such as TBILL.

Proposed as the reserve asset underpinning USDH, the TBILL fund boasts elite credit ratings from Moody’s (A) and S&P (AA+f/S1+). These reserves are overseen by BNY Mellon, one of the world’s largest custodial banks and asset managers, further solidifying USDH’s reliability. This institutional and regulatory backing positions USDH as a standout stablecoin with unmatched transparency and security credentials.

A Revenue Model Designed to Empower Hyperliquid

OpenEden’s proposal emphasizes an innovative revenue model that directly benefits Hyperliquid’s ecosystem. Should OpenEden oversee USDH issuance, all fees collected during issuance and redemption will be redirected to support HYPE token buybacks and validator rewards, ensuring continuous value creation for participants.

Additionally, the net yield from TBILL reserves—currently averaging about 4%—will further bolster Hyperliquid through additional HYPE buybacks and investment into ecosystem development. To drive adoption and incentivize usage, OpenEden plans to distribute 3% of its total $EDEN token supply as rewards for transactions involving USDH.

Building Institutional Trust with Key Partners

The proposal is underpinned by a consortium of established institutional partners, each contributing specialized expertise to strengthen the USDH ecosystem.

Chainlink: A top-tier oracle provider will offer price feeds, proof-of-reserve features, and cross-chain transfer technology to boost transparency and reliability.
BNY Mellon: As the custodian and investment manager of USDH reserve assets, BNY Mellon provides institutional-grade security infrastructure.
AEON Pay: Expanding USDH’s use cases, AEON Pay introduces practical real-world payment solutions.
Monarch Asset Management (FalconX subsidiary): Dedicated liquidity provisioning for USDH ensures deeper market liquidity and enhanced asset support.

This well-rounded partnership increases USDH’s potential to function seamlessly while meeting the rigorous demands of institutional adoption.

Empowering Institutional Onboarding for Hyperliquid

Designed to set a gold standard in institutional onboarding, OpenEden’s proposal includes robust mechanisms for regulatory compliance and asset protection. Utilizing seamless fiat on-and-off ramps through U.S. banking partnerships, USDH ensures ease of integration for institutional participants. Additionally, reserve assets are safeguarded through a bankruptcy remote Segregated Account Company (SAC) structure, ensuring stability and confidence for investors.

OpenEden envisions this strategic approach as a pathway to enhancing institutional trust and compliance within Hyperliquid’s decentralized infrastructure. The ripple effects of this initiative promise increased liquidity, accelerated adoption, and elevated value for all stakeholders.

The company stated, “By tying the success of USDH directly to HYPE token value, we aim to cultivate a thriving on-chain economy that benefits every participant within the ecosystem while driving long-term innovation and stability.”

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