Post #12064

Coinbase acquires Hyperliquid's USDH deployer Coinbase has become Hyperliquid’s official treasury deployer for USDC as an aligned quote asset (AQA). As part of the transition, Native Markets, the operator of Hyperliquid's stablecoin USDH, agreed to grant Coinbase the right to purchase USDH brand assets. Over the coming months, users will continue to be able to redeem USDH for USDC or fiat without fees via Native Markets’ USDH Dashboard. Native Markets assured users that USDH remains fully backed and maintained, and that it will work with HIP-3 and HIP-1 deployers to ensure the migration to USDC is complete before USDH is sunsetted. As a result of the deal, Hyperliquid will receive an additional 25% in revenue, up to $160M/year (90% of yield reserve income on $4.7B). 🔗theblock.co/post/401233/coinbase-hyperliquid-official-deployer-usdc Top 7 Ecosystem:Alpha| X | Aggregator