Coinbase to be the official USDC treasury deployer on Hyperliquid

On May 14, Coinbase announced that it will become the official vault deployer for USDC on Hyperliquid and will advance USDC integration as a deployer under the Aligned Quote Asset (AQA) framework. According to the announcement, Native Markets has agreed to grant Coinbase the right to acquire the USDH brand assets. In the coming months, users will still be able to exchange USDH for USDC or fiat currency with zero fees through the USDH Dashboard. The announcement shows that USDC currently has a scale of approximately $5 billion on Hyperliquid, a year-on-year increase of about 2 times. Coinbase stated that this move aims to further promote the integration of on-chain capital markets with USDC liquidity.