Circle Launches Native USDC on HyperEVM, Expands Liquidity and Cross-Chain Access
Circle has announced the launch of native USD Coin (USDC) on HyperEVM, the smart contract layer of Hyperliquid, in a move that broadens the stablecoin’s footprint in decentralized finance. The deployment also brings support for Circle’s Cross-Chain Transfer Protocol (CCTP) V2, which enables users to move USDC seamlessly between HyperEVM and more than a dozen other supported blockchains.
The rollout of native USDC eliminates the need for third-party bridges, which have historically been a point of risk for users and developers. Instead of locking tokens on one chain and issuing synthetic versions on another, CCTP V2 allows USDC to be burned and re-minted natively across networks, preserving a unified liquidity pool. This approach reduces settlement risk, improves transaction speed, and avoids liquidity fragmentation.
Circle’s collaboration with Hyperliquid goes further than just deploying a token. The company has reportedly taken an equity position in the Hyperliquid ecosystem by acquiring HYPE, the platform’s governance token. Additionally, Circle is evaluating the possibility of becoming a Block confirmer on the network, which would give it a direct role in securing Hyperliquid’s infrastructure and potentially participating in governance decisions. This deeper level of involvement highlights Circle’s confidence in Hyperliquid’s growth trajectory and its ambition to shape the network’s evolution.
Ecosystem impact and liquidity boost
The introduction of native USDC is expected to significantly enhance liquidity on HyperEVM, benefiting both traders and decentralized application developers. As Hyperliquid continues to gain traction as a platform for perpetual futures trading and other DeFi activities, the presence of a regulated and widely trusted stablecoin could attract a wider range of market participants. For institutional players, the assurance of transacting with a fully reserved, transparent asset like USDC may lower the barriers to entry and promote deeper on-chain liquidity.
Developers building on HyperEVM stand to gain from Circle-supported incentive programs designed to stimulate innovation. These initiatives are aimed at fostering the development of decentralized finance products, payment answers, and other applications that leverage USDC’s liquidity. By making it easier and more attractive for builders to deploy on HyperEVM, Circle and Hyperliquid hope to accelerate ecosystem growth.
Looking ahead to HyperCore integration
While this initial deployment focuses on HyperEVM, full interoperability with HyperCore—the execution layer powering Hyperliquid’s primary platform—is expected to follow in the coming weeks. This integration will enable direct deposits and withdrawals of USDC between HyperCore and HyperEVM, further streamlining the user experience and creating a more cohesive trading environment.
The move is part of Circle’s broader strategy to make USDC available on leading blockchain platforms. By embedding USDC into HyperEVM ahead, Circle positions its stablecoin as a default settlement asset for the network, strengthening its competitive stance against other stablecoins and reinforcing its role as a critical piece of infrastructure for the next generation of decentralized finance.
