HyperliquidX Activates AQAv2 and Appoints Coinbase as Official USDC Treasury Deployer
Coinbase will manage automated deployment of USDC liquidity on HyperliquidX following the activation of AQAv2 on June 8, 2026. The arrangement covers $6.06 billion in USDC across Arbitrum and HyperEVM.
cryptoninjas.netCoinbase became the official deployer of HyperliquidX’s USDC treasury wallet after the activation of AQAv2 on June 8, 2026. Coinbase posted a tweet the same day announcing the activation and naming two on-chain addresses that will handle the operations: 0x4E5319dEb1072B01439EE674db5C321d11fd96F8 and 0xc20699185c15D0a2fD65779BB5d69f5b0B113c00. 06 billion in USDC, according to the announcement.
46 billion on HyperEVM. AQAv2 functions as an upgraded automation framework for USDC liquidity deployment across Hyperliquid. The two designated addresses are expected to serve as the primary endpoints for Hyperliquid’s USDC treasury activity.
Hyperliquid runs on-chain but relies on Coinbase’s regulated infrastructure for execution. On-chain USDC has become a standard settlement layer across crypto-native platforms. Coinbase’s role now extends beyond trading services to managing custody and automated deployment for another platform’s treasury operations.
The arrangement places Coinbase’s institutional services at the center of Hyperliquid’s liquidity management.
