Coinbase becomes the official USDC treasury deployer on Hyperliquid and gains the purchasing rights for USDH branded assets

Coinbase has announced that it has become the official treasury deployer of USDC on Hyperliquid, using it as an aligned quote asset. As part of the transition, Native Markets has reached an agreement granting Coinbase the right to purchase USDH branded assets. The USDH market will gradually close, during which users can still exchange USDH for USDC or fiat currency without fees. Currently, the scale of USDC on Hyperliquid is approximately $5 billion, a year-on-year increase of 2 times. This integration aims to strengthen USDC's position as the preferred stablecoin in on-chain capital markets, further unify global markets, and enhance capital efficiency.