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Coinbase becomes the official USDC treasury deployer for Hyperliquid, USDH officially exits
Deep Tide TechFlow News, May 14th, according to Coinbase’s official blog, Coinbase announced that it has become the official treasury deployer (AQA) for USDC on Hyperliquid, further consolidating USDC’s position as the preferred stablecoin in on-chain capital markets. Currently, the total USDC on Hyperliquid has reached approximately $5 billion, a 2x increase year-over-year. Meanwhile, Native Markets has agreed to sell its USDH branded assets to Coinbase, and the USDH market will gradually exit. During the transition, users can freely exchange USDH for USDC or fiat currency via the USDH Dashboard, with ongoing support from Native Markets.