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Coinbase adopts Hyperliquid's model, replacing USDH with USDC as main stablecoin in DeFi trading.

Market News
14 May 2026
BeInCrypto
View Source
Bullish
pluang ai news

Coinbase is taking over USDH stablecoin brand assets from Native Markets and adopting Hyperliquid's upgraded Aligned Quote Asset (AQA) model, which redirects stablecoin reserve yield back into the ecosystem. This transition phases out USDH and establishes USDC as the dominant stablecoin on Hyperliquid's decentralized perpetuals trading platform. The move marks a significant shift in stablecoin economics, with Coinbase sharing most reserve yield revenue with the protocol, potentially influencing other crypto platforms to adopt similar revenue-sharing models. USDH holders can convert their tokens to USDC or fiat without fees during the gradual migration, as Hyperliquid coordinates liquidity and market transitions.

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