Regulators support stablecoin strategy for domestic market pegged to the dollar

Native Markets has received regulatory approval to issue USDH, a stablecoin pegged to the US dollar and backed by custodial reserves designed to expand its digital asset issuance in Asia. USDH aims to facilitate cross-border transactions and hedge local currency volatility, and plans to first go live on its native platform and then expand to major exchanges in the Asia-Pacific region. This move marks the increasing openness of regulatory authorities in the region to fintech innovation.