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Coinbase to manage Hyperliquid’s USDC treasury wallet as principal deployer in AQAv2 transition
Coinbase has been named the official deployer of the USDC treasury wallet for Hyperliquid, supporting the implementation of the Aligned Quote Asset Version 2 (AQAv2) framework and marking a transition away from Hyperliquid's native stablecoin, USDH.
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In May 2026, Coinbase announced that it would serve as the official deployer of Hyperliquid's USDC treasury wallet as part of the Aligned Quote Asset Version 2 (AQAv2) rollout. This development designates USDC as the principal quote asset on major Hyperliquid markets, with Coinbase and Circle both committing to stake a total of 1 million HYPE tokens and to share reserve yield with the protocol.
The AQAv2 initiative replaces Hyperliquid’s native stablecoin, USDH, which will be phased out. During the transition period, users can convert USDH to USDC or fiat without fees, and Coinbase has acquired the USDH brand rights. The protocol’s new structure ties the status of aligned quote assets to yield-sharing and staked collateral, with slashing mechanisms in place if obligations are not met.
Coinbase is a cryptocurrency exchange that provides access to a wide range of digital assets, including Bitcoin, Ethereum, Litecoin, Ripple, and BitcoinCash. The platform offers both web and mobile trading, serves users from over 100 countries, and features security measures such as offline asset storage, a free e-wallet, and a virtual card. Users can benefit from available educational resources and analytics; more information can be found in the broker profile on Traders Union.
For more background, see our previous Coinbase update on Traders Union, where we discussed the broker's sharp drop of 8.11% amid persistent selling pressure, oversold signals, and new regulatory developments. This context provides important insights into the continuing trends affecting Coinbase in the current market.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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