Paxos, renowned stablecoin issuer, today released a new USDH V2 proposal with three major updates, aiming to unlock Hyperliquid on a global scale. Here are the key points of the proposal.
Paxos: the stablecoin issuer and the USDH V2 proposal to unlock Hyperliquid on a global scale
Today, the stablecoin issuer Paxos released a new USDH V2 proposal that includes three major updates.
72 hours. Every comment read and concern addressed.
We’re out of the war room, with @PayPal + @Venmo on board.
USDH Proposal v2:
❏ PayPal ecosystem integrations + $20M incentives
❏ AF pledge starts at 20% and rises w/ TVL
❏ Paxos takes 0 until >$1B, capped at 5% past $5B pic.twitter.com/eLucHcw63h— Paxos (@Paxos) September 10, 2025
“72 hours. All comments have been read and all concerns have been considered. We are out of the operations room, with @PayPal + @Venmo on board. USDH v2 proposal: – PayPal ecosystem integrations + $20 million incentives; – AF commitment starts at 20% and increases with TVL; -Paxos takes 0 up to >$1 billion, with a maximum cap of 5% beyond $5 billion”
According to what was reported, the three updates proposed by Paxos in its USDH V2 proposal include:
- Partnership with PayPal – with the HYPE token listed on PayPal/Venmo, free USDH on/off ramps, ecosystem incentives amounting to 20 million dollars, and global payment integrations on Checkout, Braintree, Venmo, Hyperwallet, and Xoom.
- Renewed rewards: clear and transparent incentive structure, with Paxos earning only once TVL targets are met, with a maximum cap of 5%, and all fees taken in HYPE tokens to align directly with the community.
- Global scalability initiatives – Paxos is the only issuer capable of legally issuing stablecoins globally – no one else can legally issue them in Europe, period – ensuring that USDH can scale globally in a fully compliant manner.
The goal of Paxos is to unlock Hyperliquid on a global scale, with its HYPE token which will then be listed as a purchasable asset on PayPal and Venmo, following regulatory approval.
Paxos: the new USDH V2 proposal to design the stablecoin
This new proposal comes after, just two days ago, Paxos reportedly submitted the proposal to design USDH, the stablecoin pegged to the dollar intended for the Hyperliquid ecosystem.
In practice, at that time, the structure stipulated that approximately 95% of the yield generated from the reserves was used for the repurchase of the HYPE token, which was then redistributed within the ecosystem.
In any case, the initial proposal of USDH is the dollar-pegged stablecoin, issued and managed by Paxos and designed to be used on Hyperliquid with direct links to banking channels and brokerage services.
Here, the goal is to offer a regulated infrastructure that facilitates institutional adoption without sacrificing the functionalities of DeFi.
Now, instead, the new USDH V2 proposal aims to facilitate the unlocking of Hyperliquid on a global scale.
HYPE: the price pumped by +22% in the last 7 days
In the meantime, taking a look at the 11th crypto by market cap, Hyperliquid (HYPE), it seems that the trend is bullish.
At the time of writing, HYPE is valued at $54.96, in a pump of +22% compared to 7 days ago.
In fact, it can be said that since September 9, the price of HYPE seems to oscillate around its all-time highs or ATH – All Time High, even surpassing $55.