Coinbase has announced its role as the official treasury deployment partner for USDC on the Hyperliquid platform, positioning USDC as the preferred stablecoin for Hyperliquid's on-chain capital markets. In this strategic move, Coinbase will acquire USDH-branded assets from Native Markets, with plans to phase out the USDH market gradually. Users will continue to exchange USDH for USDC or fiat currency through Native Markets' USDH Dashboard during the transition. Since its 2023 launch, USDC on Hyperliquid has seen rapid growth, reaching a total volume of approximately $5 billion, doubling year-over-year. This integration aims to enhance liquidity efficiency and reduce exchange friction, leveraging Coinbase's global network to unify markets.
Coinbase to Acquire USDH, Transition to USDC on Hyperliquid
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