The battle to dominate stablecoin custody and management
Paxos may be the established name in stablecoins, but rivals like Agora are fast closing in, intensifying the contest.
Hyperliquid is a crypto exchange that doesn’t want its customers to rely on leading stablecoins like Tether or Circle for trading on its platform. It would rather issue the coin itself.
But managing coins is a complex business, requiring licenses, banking relationships, regulatory experts, and more. That’s why Hyperliquid is seeking to outsource the responsibility to a professional custodian that is already geared up for issuing stablecoins.
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