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Coinbase to Deploy Treasury Wallets for USDC on HyperliquidX

Created at 8 Jun · 9:13 PM1 source↑ Market-relevant
IN SHORT

Coinbase has been appointed the official treasury wallet deployer for USDC on HyperliquidX following the activation of AQAv2. This initiative will distribute 90% of treasury yield across $6.06 billion in USDC holdings.

Key Numbers

$6.06Btotal USDC treasury holdings
$1.6BUSDC on Arbitrum
$4.46BUSDC on HyperEVM
90%treasury yield distribution

Who's Involved

Coinbase
Official treasury wallet deployer for USDC on HyperliquidX
HyperliquidX
Platform where Coinbase will deploy USDC treasury wallets
Coinbase to Deploy Treasury Wallets for USDC on HyperliquidX

↳ Why This Matters

This partnership integrates Coinbase's established treasury services with the growing DeFi ecosystem on HyperliquidX, potentially increasing liquidity and yield opportunities for USDC holders across different blockchain networks.

Key facts

  • Coinbase is now the official treasury wallet deployer for USDC on HyperliquidX.
  • This appointment follows the activation of AQAv2.
  • 90% of treasury yield will be distributed across $6.06 billion in USDC.
  • $1.6 billion in USDC will be held on Arbitrum.
  • $4.46 billion in USDC will be held on HyperEVM.

Coinbase has been designated as the official treasury wallet deployer for USD Coin (USDC) on the HyperliquidX platform. This development comes after the successful activation of AQAv2, a significant upgrade for the ecosystem.

Under this new arrangement, 90% of the treasury yield generated from USDC holdings will be distributed. The total amount of USDC involved is $6.06 billion, with a substantial portion, $1.6 billion, allocated to the Arbitrum network and the remaining $4.46 billion to the HyperEVM.

This strategic move by Coinbase aims to enhance the management and yield distribution of USDC reserves within the HyperliquidX environment, leveraging the capabilities of both Arbitrum and HyperEVM.

Frequently asked questions

Coinbase will serve as the official treasury wallet deployer for USDC on the HyperliquidX platform.

AQAv2 is an activation that has occurred on HyperliquidX, enabling new functionalities such as Coinbase's role as treasury wallet deployer.

A total of $6.06 billion in USDC is involved, with $1.6 billion on Arbitrum and $4.46 billion on HyperEVM.

Ninety percent of the treasury yield generated from the USDC holdings will be distributed.

What Happens Next

01Monitoring of treasury yield distribution across Arbitrum and HyperEVM.
02Further developments in the HyperliquidX ecosystem following AQAv2 activation.
CME Headlines
  • Product Modification Summary: Add Offset Eligibility to Bitcoin Futures, Micro Bitcoin Futures, Ether Futures and Micro Ether Futures Contracts — Effective September 14, 2026
    19 Aug · 9:15 PM
  • Amendments to CME Rule 855. (“Offsetting Positions for Different-Sized Contracts”) – Contracts Eligible for Offset Table to Include Bitcoin Futures, Micro Bitcoin Futures, Ether Futures and Micro Ether Futures Contracts
    19 Aug · 7:45 PM

How It Developed

8 Jun · 9:11 PM
Coinbase is now the official treasury wallet deployer for USDC on HyperliquidX after AQAv2 activation, distributing 90% of treasury yield.
@CoinDesk via PiQSuite

Sources

T1
NEW: @Coinbase becomes the official treasury wallet deployer for $USDC on @HyperliquidX following the activation of AQAv2, distributing 90% of treasury yield across $6.06B in $USDC, $1.6B on Arbitrum and $4.46B on HyperEVM. https://t.co/qaZeSQJE2s@CoinDesk via PiQSuite

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