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serious capital. Coinbase, for its part, acquired the USDH brand assets — a quiet but pointed move
treasury deployer on Hyperliquid and acquired Native Markets' USDH brand assets as USDH transitions into USDC — consolidating stablecoin
terms granting Coinbase the right to acquire the USDH brand assets, with the USDH stablecoin market
secured rights to purchase brand assets tied to USDH, Hyperliquid's native stablecoin developed by Native Markets. USDH
also acquires the brand assets of Native Markets' USDH stablecoin, which will transition into USDC. The move effectively…derivatives venues. For Hyperliquid users, the shift means USDH positions and liquidity will migrate to USDC rails
stablecoin infrastructure. As part of the transition, USDH — Hyperliquid's native stablecoin — will be phased out over time
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