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3w ago

Circle Launches Native USDC and CCTP v2 on Hyperliquid, Becomes HYPE Stakeholder

The move positions Circle inside a high‑volume derivatives hub where an upcoming USDH will test the stickiness of USDC liquidity.

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Hyperliquid integrates Circle’s USDC and CCTP V2 on HyperEVM for cross-chain deposits and institutional access

Overview

  • Native USDC is live on Hyperliquid’s HyperEVM with Circle’s CCTP v2 enabling burn-and-mint transfers across supported chains without third‑party bridges.
  • Circle confirmed a direct HYPE token stake and said it is evaluating participation as a Hyperliquid validator.
  • Circle plans SDKs, tools, and incentive programs for HyperEVM and HIP‑3 builders, with HyperCore direct deposits and interoperability slated to roll out soon.
  • Hyperliquid holds roughly $5.5–6 billion in USDC and processes about $150 billion in monthly onchain trading volume, making settlement choices economically significant.
  • Validators selected Native Markets to issue USDH in a staged rollout that starts on HyperEVM and introduces a USDH/USDC pair, creating a direct on‑platform competitor to USDC.