Coinbase will become the official treasury deployer of USDC on Hyperliquid, the companies announced Thursday, ending the short run of USDH, the native stablecoin validators selected over more established competitors less than a year ago.

Coinbase will manage USDC liquidity on Hyperliquid, deepening ties with one of crypto’s fastest-growing trading platforms.

Coinbase takes over USDC treasury on Hyperliquid, marking USDH's phase-out as USDC sees robust growth in the crypto market.