Coinbase Takes Over USDH as Hyperliquid Shifts to USDC

Coinbase is moving deeper into the Hyperliquid ecosystem after Native Markets announced plans to transition its USDH stablecoin infrastructure toward USDC under a new treasury-sharing model. The move effectively sunsets USDH as Hyperliquid’s primary quote asset while positioning USDC as the dominant stablecoin across the decentralized perpetuals trading network. Coinbase Absorbs USDH as Hyperliquid Bets