Coinbase has become the official operator of the USDC treasury wallet in Hyperliquid.

Coinbase has also begun activating AQAv2.

AQAv2 is a new model under which USDC becomes the primary settlement asset on Hyperliquid. Its goal is to link the USDC circulation economy with the protocol’s own economy.

This is the next stage of collaboration following the May announcement, when Coinbase obtained the status of official treasury deployer for USDC on Hyperliquid.