01.08.2025 06:24
Circle is launching its native USDC stablecoin on the Hyperliquid blockchain, a move that promises to significantly enhance cross-chain USDC transfers. This integration will leverage Hyperliquid's unique architecture, combining a native order book decentralized exchange (DEX) called HyperCore with a smart contract platform known as HyperEVM. The result will be direct, efficient deployment of native USDC on HyperEVM, enabling seamless usage across all Hyperliquid applications, including trading.
The integration also features CCTP V2, a cross-chain transfer protocol. This advanced functionality facilitates rapid and secure USDC transfers between Hyperliquid and other blockchains. Crucially, CCTP V2 eliminates the risks and inefficiencies associated with wrapped or synthetic tokens, ensuring full capital efficiency. This will be particularly beneficial for users employing native USDC as collateral or a quote asset in perpetuals and spot trading on Hyperliquid's high-speed DEX.
This collaboration underscores Hyperliquid's impressive growth trajectory. Remarkably, the platform now controls approximately 70% of all USDC circulating on the Arbitrum network. This dominance is reflected in its Assets Under Management (AUM), which have experienced a substantial increase from below $4 billion to $5.5 billion within a single month – a growth exceeding $1.2 billion in USDC alone. This significant expansion highlights the increasing adoption and trust in the Hyperliquid ecosystem.
The native USDC on Hyperliquid, issued by Circle’s regulated affiliates, maintains a strict 1:1 peg to the US dollar. Institutional users will benefit from access to Circle Mint, providing compliant on- and off-ramp services. While Circle hasn't yet publicly released the official contract addresses for USDC on Hyperliquid, the launch is expected to further consolidate Hyperliquid’s position as a leading player in the decentralized finance (DeFi) space. The HYPE token, meanwhile, is currently trading at $43.97, exhibiting a neutral Relative Strength Index (RSI) near 52 and holding above its 50-day exponential moving average (EMA).
