Hyperliquid stablecoin issuers · SwanBluechip
Stablecoin protocols issuing or wrapping value on Hyperliquid L1 — beyond USDC, the dominant quote asset.
2
projects tracked
7/10
top score (Felix)
2
Strong+ tier
All Stablecoins projects, ranked
#1
Felix
High-TVL CDP and stablecoin protocol (feUSD), frequently flagged among the strongest farming picks.
7/10 · Strong
#2
Native Markets
Issuer of USDH, a dollar stablecoin on Hyperliquid. Reserve management and the use of reserve income are described in Native Markets' official announcements.
7/10 · Strong
Questions
What stablecoins are on Hyperliquid?
USDC dominates as the perp quote asset. USDT, USDe, USDH, and feUSD also circulate. Felix and Native Markets are the two Strong-rated (7/10) issuers building new HL-native stablecoin products.
What is feUSD?
feUSD is the Felix protocol's native stablecoin. See /projects/felix/ for the full take.
Where can I see live stablecoin supply on Hyperliquid?
/stables/ tracks circulating supply, 7-day growth, and market share for every stablecoin on the HL L1.