Circle Launches Native USDC on Hyperliquid, Acquires HYPE Stake

Reading Time: < 1 minute

Circle is launching a native version of its USDC stablecoin on the Hyperliquid decentralized exchange. The integration, starting on Hyperliquid’s HyperEVM, will be supported by Circle’s upgraded Cross-Chain Transfer Protocol (CCTP v2) for seamless movement of assets.

The announcement confirms that Circle has become a “direct stakeholder” in the Hyperliquid ecosystem through an investment in HYPE tokens. This cements USDC’s role as the platform’s dominant stablecoin, which currently backs nearly $6 billion in reserves.

The launch follows Hyperliquid’s recent selection of Native Markets to issue a new native stablecoin, USDH. The platform has stated that other stablecoins, including USDC, will remain supported as trading pairs if they meet specific staking and liquidity conditions.