# Native Markets

> Track Native Markets with daily standardized on-chain data. Compare Native Markets with other stablecoin issuers. See charts and datasets in one place.

Source: [Native Markets on Token Terminal](https://tokenterminal.com/explorer/projects/nativemarkets). This page has no metric values. For current values, use the [Token Terminal API](https://tokenterminal.com/docs/api-reference/introduction) or the [MCP server](https://tokenterminal.com/docs/mcp/introduction).

- Sectors: Stablecoin issuers
- Chains: hyperevm

## About

### What it is

Native Markets is an American DeFi company offering USDH, a fully-backed stablecoin designed to make cryptocurrencies accessible for everyday financial transactions worldwide with institutional-grade infrastructure and compliance.

### Who uses it

Native Markets serves users seeking accessible stablecoins for everyday financial transactions globally, traders on Hyperliquid wanting fee benefits (20% lower taker fees, 50% maker rebate increases), and DeFi participants needing a compliant, fully-backed USD stablecoin with transparent reserves.

### How it works

Native Markets issues USDH through Bridge (a Stripe company) with 1:1 backing by US Treasuries, cash, and cash equivalents managed by BlackRock (offchain) and Superstate (onchain), custodied through JP Morgan Chase and Fireblocks. The platform offers KYC in minutes with direct Hyperliquid onramp at no cost, permissionless DeFi swapping, monthly third-party reserve attestations, and GENIUS Act compliance alignment. Additionally, 50% of USDH gross revenue flows to the Hyperliquid Assistance Fund supporting protocol buybacks.

## Metrics

Token Terminal tracks these metrics for Native Markets daily. Each page has a chart with the full history.

- [Outstanding supply](https://tokenterminal.com/explorer/projects/nativemarkets/metrics/outstanding-supply)
- [Active addresses (daily)](https://tokenterminal.com/explorer/projects/nativemarkets/metrics/active-addresses-daily)
- [Active addresses (weekly)](https://tokenterminal.com/explorer/projects/nativemarkets/metrics/active-addresses-weekly)
- [Active addresses (monthly)](https://tokenterminal.com/explorer/projects/nativemarkets/metrics/active-addresses-monthly)
- [Core developers](https://tokenterminal.com/explorer/projects/nativemarkets/metrics/active-developers)
- [Code commits](https://tokenterminal.com/explorer/projects/nativemarkets/metrics/code-commits)
- [Transaction count (contracts)](https://tokenterminal.com/explorer/projects/nativemarkets/metrics/transaction-count-contracts)
- [Gas used](https://tokenterminal.com/explorer/projects/nativemarkets/metrics/gas-used)

## Links

- [website](https://nativemarkets.com/)
- [twitter](https://x.com/nativemarkets)
- [github](https://github.com/native-markets)