- Circle announced native USDC and CCTP v2 deployment on Hyperliquid’s HyperEVM platform.
- Native USDC on Hyperliquid enables 1:1 redemptions and access to Circle Mint ramps.
- CCTP v2 enables 1:1 USDC transfers and supports DeFi apps like swaps and treasury tools.
Circle Internet Financial has announced the deployment of native USDC and Cross-Chain Transfer Protocol (CCTP) version 2 on Hyperliquid. The integration introduces direct USDC issuance and seamless cross-chain transfers to Hyperliquid’s decentralized exchange and smart contract platform, HyperEVM.
According to the announcement, launch of native USDC on Hyperliquid is set to provide traders and developers with a fully reserved, regulated digital dollar redeemable 1:1 for U.S. dollars.
USDC Launch Enhances Trading and Institutional Onboarding
According to Circle, USDC will be issued natively on HyperEVM, enabling direct deposits to HyperCore, Hyperliquid’s core decentralized exchange. Traders will be able to use USDC as collateral in perpetual contracts or as the quote asset in spot trading pairs. The deployment removes the need for wrapped tokens or external custodial bridges.
Circle stated that eligible users will also gain access to institutional-grade on- and off-ramps through Circle Mint. These ramps offer integration with banking infrastructure, simplifying capital entry and exit from the decentralized environment.
CCTP v2 Enables Seamless Cross-Chain Transfers
According to Circle, CCTP version 2 allows native USDC to move securely between Hyperliquid and supported blockchains with full capital efficiency. Developers can use the protocol to build cross-chain applications for onboarding, token swaps, purchases, and treasury management. The setup ensures that USDC retains 1:1 parity during all transfers without needing wrapped assets.
Developers on HyperEVM can now add native USDC to support fast settlements, cross-chain functionality, and access to a digital dollar that’s designed to maintain a stable value.
Also Read | Circle’s USDC Now Live on XRPL: Instant Stablecoin Access Without Bridging
USDC Expands Presence Across Blockchain Networks
In addition to native USDC and CCTP v2, which are expected to soon launch on Hyperliquid, Circle and the platform continue to expand the range of stablecoin functions across DeFi. Hyperliquid has rapidly increased its presence in stablecoin markets and developer activity, with USDC serving as a core asset within its ecosystem.
In July, its assets under management (AUM) increased from $4 billion to $5.5 billion, driven in part by rising USDC inflows. Of that, $1.2 billion in new inflows came through USDC.
With Hyperliquid already accounting for 70% of stablecoin volume on Arbitrum, the direct deployment is expected to drive more activity on the platform.
Hyperliquid’s trading ecosystem recently reached $10.6 billion in open interest. The platform also expanded to Solana through a partnership with Phantom wallet, allowing in-wallet leveraged trading.
Circle’s deployment on Hyperliquid adds to a series of USDC integrations completed in recent weeks. These include launches on Sam Altman’s World Chain, the XRP Ledger, and a partnership with Binance to offer USYC, a yield-bearing stablecoin for institutional collateral.
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