Circle Launches Native USDC on HyperEVM, Becomes Stakeholder in Hyperliquid, marking a major milestone and deepening its partnership with the Hyperliquid ecosystem.

Circle Launches Native USDC on HyperEVM, Becomes Stakeholder in Hyperliquid

Native USDC and CCTP V2 Now Live on HyperEVM

In a recent announcement on its blog, Circle revealed the official debut of Native USDC and CCTP V2 on HyperEVM. This milestone brings the world’s most reliable, fully regulated dollar‑stablecoin straight into the hands of the Hyperliquid community.

With this integration, developers, institutions, and traders now have seamless access to USDC on HyperEVM, complemented by secure, cross‑chain deposits spanning over a dozen blockchains.

Looking ahead, Hyperliquid will roll out direct deposits and CCTP interoperability for Hyperliquid USDC on HyperCore in the coming weeks.

The combination of native USDC on HyperEVM, V2 interoperability, and forthcoming HyperCore support empowers users and builders to move digital dollars effortlessly across the entire crypto ecosystem. Fintechs, on‑/off‑ramp providers, and other services can integrate with Hyperliquid while enjoying the liquidity of the globe’s leading digital dollar.

Circle: A Direct Stakeholder in Hyperliquid

Circle has now become a direct stakeholder within Hyperliquid, committing its first HYPE token investments and launching a comprehensive collaboration program for front‑line HIP‑3 and HyperEVM developers. The team is also investigating the possibility of becoming a Hyperliquid Validator.

Circle highlighted that engaging with Hyperliquid’s core team, as well as the myriad startups and developers building on HyperEVM and HIP‑3, has been a truly rewarding experience. “This is clearly one of the most impressive communities and platforms across the entire crypto landscape,” the company remarked.

“Strong Validation of Hyperliquid”

VanEck’s Matthew Sigel praised the development as a major achievement, describing it as a decisive validation of Hyperliquid’s standing as an independent Layer‑1 network.

Analyst DeFiyst framed the move as a “last‑ditch effort” to preserve the $5.3 billion of USDC on Hyperliquid, which is slated for conversion into USDH. While this represents only about 7 % of USDC in global circulation, it could amount to 12–15 % of Circle’s revenue once exchange and chain fees are factored in.

USDH Set to Launch

Anticipating the launch of Hyperliquid’s own native stablecoin, USDH, we note that Native Markets secured the USDH ticker through a community‑led governance process and a competitive bidding round that attracted major players such as Paxos, BitGo, Ethena, and Frax—underscoring the platform’s robust community backing.