Crypto

Coinbase Ramps Up USDC Support on Hyperliquid

Guavy AI Editorial Team Published September 29, 2026

Instruments

HYPE USDC MEW

Coinbase has partnered with Hyperliquid to serve as its official treasury deployer for USD Coin (USDC). Under this arrangement, about 90% of the cost-adjusted reserve yield from USDC supply will be directed towards the protocol. This move further solidifies USDC's position in Hyperliquid's stablecoin model.

The partnership also establishes a payment schedule for the resulting yield, with the first transfer to Hyperliquid's Assistance Fund scheduled for October 3. The framework requires Coinbase and Circle to each stake 500,000 HYPE tokens as collateral.

Native USDC and Cross-Chain Transfer Protocol (CCTP) V2 support transfers between Hyperliquid and supported blockchains, including deposits into HyperCore, spot and perpetual trading, and applications on HyperEVM. This infrastructure will enable seamless interactions between the two networks.

Coinbase Ramps Up USDC Support on Hyperliquid

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