Paxos has officially updated its proposal to issue USDH, the stablecoin associated with decentralized exchange Hyperliquid, incorporating strategic partnerships with PayPal and Venmo. The new initiative includes PayPal’s commitment to support the Hyperliquid ecosystem by listing the HYPE token and offering integrated payment solutions for USDH through its platforms, including Venmo and Xoom. Additionally, PayPal plans to allocate $20 million to incentivize the HYPE ecosystem. Furthermore, Paxos asserts that its regulatory standing in the EU will facilitate the global circulation of USDH. To align its interests with the Hyperliquid ecosystem’s growth, Paxos will begin earning fees only after USDH achieves a total value locked (TVL) of $1 billion, scaling up earnings to 5% as the TVL increases. This development comes amidst competitive efforts from other crypto firms to issue USDH, indicating a growing ecosystem in decentralized finance.

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