Coinbase Takes Over USDH as Hyperliquid Shifts to USDC
BeInCrypto
Coinbase is acquiring USDH brand assets as Hyperliquid transitions to a USDC-based treasury model that shares reserve yields with the ecosystem.Summary
Coinbase has agreed to acquire the USDH brand assets from Native Markets as Hyperliquid shifts its primary stablecoin infrastructure to USDC. Under this new arrangement, part of the Hyperliquid AQAv2 framework, Coinbase will serve as the official USDC treasury deployer and share a significant portion of reserve yield revenue back with the Hyperliquid protocol. While USDH is being phased out, Native Markets confirmed it will remain fully backed during a gradual migration period, allowing users to convert holdings into USDC or fiat.
(Source：BeInCrypto)