Tether (USDT) is expanding its footprint beyond stablecoin issuance, backing Dreamcash in a move that could accelerate the migration of retail perpetual traders from centralized exchanges to onchain derivatives markets.
Dreamcash announced that its operating entity, Supreme Liquid Labs, has secured a strategic investment from Tether.
The funding coincides with the launch of the first USDT0-collateralized HIP-3 perpetual markets on Hyperliquid (HYPE), offering traders synthetic exposure to major equity indices, single stocks, and commodities using USDT as collateral.
The development positions Tether not merely as a liquidity provider, but as an active architect in the evolution of decentralized derivatives infrastructure.
Bringing USDT Traders Onchain
The newly launched markets include perpetual contracts tied to instruments such as the S&P 500 index, Tesla, Nvidia, Amazon, Microsoft, and gold.
These products allow traders to gain synthetic exposure without holding the underlying assets, using USDT0 as margin.
USDT0 is Tether’s cross-chain liquidity framework built on LayerZero’s OFT standard.
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Since its launch in early 2025, it has processed more than $50 billion in cumulative transfers across multiple networks, according to the announcement.
Until now, traders holding USDT on centralized exchanges had limited direct access to Hyperliquid’s markets.
The Dreamcash integration aims to remove that friction by allowing users to move capital into non-custodial environments without changing their base unit of account.
“This investment from Tether validates what we've been building; a trading experience that meets retail users where they are,” said Marco van den Heuvel. “With USA500, TSLA, NVDA and many others now live, traders can finally access equity perpetuals using the stablecoin they already hold, removing a barrier that has kept mainstream traders on centralized platforms.”
The strategy targets a massive demographic: retail traders already using USDT as margin on centralized perpetual platforms, particularly in regions where USDT functions as the de facto settlement currency for crypto activity.
Incentives And Liquidity Push
To accelerate adoption, Dreamcash is launching a $200,000 weekly trading incentive program for USDT-based markets during the initial rollout phase. Traders will earn rewards based on their share of overall trading volume.
While incentives are common in DeFi market launches, they also raise questions about organic demand. Volume bootstrapping programs can attract short-term liquidity without guaranteeing sustained participation once rewards taper off.
Institutional-grade liquidity for the markets is being provided by Selini Capital, aiming to deliver tighter spreads and execution standards that retail derivatives traders expect from centralized venues.
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