Coinbase (COIN) backs Hyperliquid (HYPE) stablecoin push as DeFi trading volumes climb
CoinDesk
Coinbase will manage USDC liquidity on the Hyperliquid network, strengthening its role in decentralized finance infrastructure as trading volumes rise.Summary
Coinbase has entered a strategic partnership to become the official treasury deployer of USDC on the Hyperliquid decentralized trading platform. By utilizing the Aligned Quote Asset (AQA) framework, Coinbase will manage liquidity and integrate it directly into the network's trading infrastructure. As part of this transition, Native Markets will sunset its USDH stablecoin, with Coinbase securing the rights to the brand assets. This move aligns with Coinbase’s broader strategy to expand USDC adoption beyond Ethereum and centralized exchanges, positioning the stablecoin as a core settlement layer for Hyperliquid’s rapidly growing DeFi ecosystem.
(Source：CoinDesk)