Coinbase has officially expanded its involvement within the Hyperliquid ecosystem by becoming the designated treasury deployer for USDC under Hyperliquid’s Aligned Quote Asset framework.
The move is designed to strengthen USDC’s role as the leading stablecoin across on chain capital markets and improve liquidity efficiency throughout the network.
USDC Adoption on Hyperliquid Continues Growing
In its latest announcement, Coinbase explained that consolidating liquidity around USDC could create smoother trading conditions by reducing the need for multiple asset conversions across platforms.
The company confirmed that users will still be able to access USDC through Coinbase’s existing fiat on and off ramp services as well as its broader international payment network.
The Aligned Quote Asset framework was initially introduced by Native Markets as part of its effort to develop a stablecoin infrastructure for Hyperliquid users. Under the new arrangement, Coinbase will now assume responsibility as the official AQA deployer.
As part of the agreement, Native Markets has also granted Coinbase rights related to acquiring the USDH brand assets.
Although USDH markets will remain active for the time being, Coinbase stated that the stablecoin will gradually be phased out over time. During the transition process, users will continue to be able to convert USDH to USDC without fees or redeem the asset for fiat currency.
Native Markets will continue managing those redemption and conversion services throughout the migration period.
Coinbase noted that Hyperliquid has rapidly evolved into one of the dominant on chain trading networks since launch. The company added that it remains committed to supporting developers and liquidity growth within the HyperEVM ecosystem.
Circle and Coinbase Support Hyperliquid’s Next Growth Phase
In a separate update, Hyperliquid revealed that Circle will act as the technical deployer responsible for Cross Chain Transfer Protocol services and native cross chain infrastructure.
Both Circle and Coinbase have also committed to staking HYPE tokens in support of the upcoming AQAv2 activation.
According to Hyperliquid, Coinbase is expected to share the majority of reserve yield revenue generated through its treasury deployer role back with the protocol.
The platform also announced plans for a future network upgrade that will transition canonical outcome markets operating under HIP 4 to USDC based quote assets.
Since launching in November 2024, Hyperliquid has quickly established itself as a major force within on chain cryptocurrency trading, particularly in the perpetual futures market.
Institutional interest in the ecosystem increased even further earlier this week after 21Shares introduced the first exchange traded fund designed to provide exposure to Hyperliquid’s native HYPE token.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
