ChainCatcher news, USDh developer Hermetica (a stablecoin built on Bitcoin's second layer Stacks) has completed a transaction that brings approximately $3 million in liquidity to the token.Hermetica and the Bitcoin lending protocol Zest plan to provide USDh yield through sBTC lending.

ChainCatcher news, according to CoinDesk, blockchain security company Elliptic reported that the illegal trading platform Huione, with a total transaction volume of $24 billion, has launched its own stablecoin USDH and chat service.The platform previously primarily used USDT, but after Tether froze its accounts in July 2024 due to involvement with North Korea's Lazarus group, it developed USDH to circumvent regulatory restrictions.Elliptic's investigation shows that the platform is related to the Cambodian Huione Group and is involved in illegal activities such as money laundering, fraud, and human trafficking, including forced online scam activities within the Golden Fortune Technology Park.

ChainCatcher news, according to Bitcoin.com, the DeFi protocol Hermetica has launched the BTC-backed stablecoin USDH. Hermetica claims that USDH can always be redeemed for BTC worth 1 dollar, providing users with a non-custodial option. This release aims to eliminate the need for Bitcoin users to rely on centralized exchanges or fiat-backed stablecoins on alternative chains.The company also announced plans to expand its Bitcoin-native DeFi operations using second-layer (L2) solutions like Stacks.

According to Chain Catcher, The Block reported that the Solana-based stablecoin lending platform Hubble Protocol has completed a $5 million strategic financing round, led by Multicoin Capital, with participation from DeFiance Capital, Delphi Digital, Digital Currency Group, Crypto.com Capital, ParaFi, Jump Capital, Decentral Park Capital, CMS, Spartan Group, DeFi Alliance, and Mechanism Capital, bringing the total funding for the protocol to $15 million so far.It is reported that Hubble will use this round of financing to advance its roadmap, including improving the current platform and promoting the use of its stablecoin USDH by launching new DeFi services and products. (Source link)