Coinbase takes over USDC treasury role on Hyperliquid as USDH stablecoin heads for sunset
Crypto Briefing
Coinbase has become the official USDC treasury deployer for Hyperliquid as the platform phases out its native USDH stablecoin.Summary
Coinbase has announced its role as the official treasury deployer for USDC on the Hyperliquid network, aiming to bolster onchain financial market infrastructure. As part of this transition, Native Markets will phase out the USDH stablecoin, with Coinbase securing the rights to purchase its brand assets. Users of USDH will retain access to fee-free redemptions into USDC or fiat during the sunset period. This move is intended to consolidate liquidity and strengthen USDC as the primary stablecoin within the Hyperliquid ecosystem, which currently holds approximately $5 billion in supply.
(Source：Crypto Briefing)