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Coinbase becomes the official USDC fund deployer for Hyperliquid
BlockBeats News, May 14 — Coinbase announced that it has become the official treasury deployment partner for USDC on the Hyperliquid platform, making USDC the preferred stablecoin for on-chain capital markets on Hyperliquid. As part of this partnership, Native Markets has agreed to sell its USDH branded assets to Coinbase. In the coming months, users will still be able to freely exchange USDH for USDC or fiat currency through Native Markets’ USDH Dashboard, and the USDH market will gradually phase out.
Coinbase stated that USDC on Hyperliquid has grown rapidly since its launch in 2023, with a current total size of approximately $5 billion (doubling year-over-year). This integration is one of the most in-depth stablecoin integrations on-chain for USDC, which will improve liquidity efficiency, reduce exchange friction, and further unify the market through Coinbase’s global network.