When Native Markets secured the right to deploy USDH eight months ago, we had a simple thesis: people care about stablecoins that deliver value to the networks and their users. Today, we see a validation of that thesis with Coinbase deploying native USDC as an AQA that shares the vast majority of its reserve yield. This transition to Coinbase immediately activates yield on nearly $5B worth of stablecoins and aligns Hyperliquid with one of crypto’s strongest policy advocates. I'm proud of what @fiege_max and our entire team have built to date — designing the Open Issuance product alongside the Bridge team, building an exceptional onramp with and beyond. To those that supported USDH, thank you for your vote of confidence. There’s more to come, stay tuned.