The stablecoin strategy of @HyperliquidX determines whether it can step beyond the boundaries of the exchange in the future.

The proposal for $USDH made by Nick van Eck is very interesting:
•Entrust custody to State Street ($49T)
•Delegate management to VanEck ($130B)
• 100% of the profits return to the community
•In addition, with Rain + LayerZero, we connect payment and cross-chain scenarios.

This directly shifts Hyperliquid's positioning from a decentralized exchange to an infrastructure layer for RWA + payments.

Indeed, compared to the "leveraging external forces" approach of Stripe/PayPal, this is a longer-term and more controllable strategic choice.

From this perspective, if USDH takes off, it could become one of the divine hands behind the entire ecological expansion of Hyperliquid.

However, everyone wants to catch the big fish that is the stablecoin market, and it's not that simple to do well. While HL has secured its position as a leader in decentralized exchanges, whether choosing to venture into the stablecoin market is a good decision remains to be seen, because the approach to decentralized exchanges is completely different from that of stablecoins. Especially since HL is more adept at the strategy of "surrounding the city from the countryside," which is entirely different from the high-profile and aggressive stablecoin sector.

But anyway, being discontent with the status quo and being willing to try is always good. Looking forward to HL creating a "different" stablecoin.

#Hyperliquid # USDH #RWA