Coinbase Global Inc. (NASDAQ:COIN) has announced an expansion of its support for USD Coin (USDC) on the decentralized exchange Hyperliquid (CRYPTO: HYPE), where it will serve as the official treasury deployer. This strategic move is designed to enhance USDC's role as a key liquidity layer in decentralized trading and on-chain capital markets. According to a blog post from May 13, Coinbase emphasized that concentrating liquidity around USDC can improve market efficiency by minimizing the need for stablecoin conversions and facilitating quicker capital movement across trading platforms. Additionally, Coinbase will have the rights to acquire USDH brand assets, while ensuring that USDH remains fully backed during the transition, allowing users to redeem their assets into USDC or fiat without incurring fees. The announcement underscores Hyperliquid's rapid emergence as a leading decentralized perpetual trading ecosystem, driven by a growing demand for on-chain leverage trading and continuous price discovery. Since its launch in 2023, USDC has already established itself as the dominant stablecoin within the Hyperliquid ecosystem.