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Policy Event · Medium impact

Hyperliquid Completes USDH Market Settlement And Sunset Migration

Hyperliquid completed settlement of USDH-quoted markets on HyperCore and directed users toward USDC conversion routes, including 1:1 exchange through Across for HyperEVM USDH. The event shows why stablecoin quote assets need explicit sunset, bridge-conversion and residual-order handling controls.

Medium impact🌐 GlobalStablecoinExchangeUSDHUSDCHYPEHyperliquidHyperCoreAcross

APAC FINSTAB analysis

Although this is outside core APAC, it is relevant because global market-structure, enforcement, and stablecoin precedents often shape licensing expectations for APAC exchanges, issuers, custodians, and DeFi teams. Protocols/assets in scope: USDH, USDC, HYPE. Named institutions or platforms: Hyperliquid, HyperCore, Across. Teams should monitor the original source, map the change to licensing, custody, disclosure, and market-access obligations, and update their jurisdiction playbooks before the next compliance review.

Compliance read-through: map this event to entity licensing, market-access, custody, disclosure, token listing, and operational-risk obligations before expanding or marketing in the affected jurisdiction.

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APAC FINSTAB analysis → Original source ↗

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APAC FINSTAB analysis → Original source ↗

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APAC FINSTAB analysis → Original source ↗