Coinbase has become the official treasury deployer of USDC on Hyperliquid, acquiring the right to purchase USDH brand assets

Odaily Planet Daily reported that Coinbase has announced it is now the official treasury deployer of USDC on Hyperliquid, positioning it as the aligned quote asset. As part of this transition, Native Markets has reached an agreement granting Coinbase the right to purchase the USDH brand assets. The USDH market will be gradually phased out, during which users can still exchange USDH for USDC or fiat currency without any fees.

Currently, the scale of USDC on Hyperliquid is approximately $5 billion, representing a 2-fold increase year-over-year. This integration aims to strengthen USDC's position as the preferred stablecoin for on-chain capital markets, further unifying global markets and enhancing capital efficiency.