USDC goes live on Hyperliquid as Circle joins as stakeholder

Circle has rolled out native USDC on Hyperliquid’s HyperEVM chain and taken a direct stake in the network, marking a deeper push to expand the stablecoin’s reach and support the fast-growing DeFi platform.

Circle has officially announced the launch of native USDC on Hyperliquid’s HyperEVM layer, introducing the upgraded Cross-Chain Transfer Protocol (CCTP v2) to enable seamless movement of USDC across more than a dozen supported blockchain networks. 

The native launch means USDC users on HyperEVM no longer need wrapped versions, reducing friction for trading, minting, and cross-chain transfers. The stablecoin issuer confirmed that soon USDC will have direct deposit and full interoperability via HyperCore, enhancing speed and access for developers and dApps building in the ecosystem.

Circle will also launch tools and incentive programs for HyperEVM and HIP-3 builders. It framed the Hyperliquid move as part of a broader strategy to build what it calls a “full-stack internet financial platform,” saying it aims to support the transition of global finance on-chain and ultimately enable “hundreds of trillions of dollars” in economic activity.

Alongside this integration, Circle has also become a direct stakeholder in the Hyperliquid ecosystem.

Circle buys Hyperliquid tokens amid network growth

In a separate release, the stablecoin issuer announced that it has made its first investment in HYPE (HYPE) token. The amount of tokens purchased was not revealed, and the firm added that it is now considering a validator role to help secure the network and participate in governance.

Circle’s entry comes as the Hyperliquid ecosystem expands rapidly. On-chain data tracker DefiLlama shows monthly revenue climbed to about $106 million, a 23% jump from July, while total value locked on its Layer-1 has grown to roughly $670 million, underscoring the platform’s expanding liquidity and trader base.

Hyperliquid has also drawn attention for efficiency, recently becoming the most productive company in the world by revenue per employee, generating over $1 billion in annualized revenue with just an 11-person staff.

The growth has been mirrored in its native HYPE token, which recently set an all-time high near $57 and continues to post daily trading volumes above $500 million. Strong demand for staking and governance participation has reinforced HYPE’s role at the center of the network’s economy. 

Circle described Hyperliquid’s rise as impressive and said its investment and USDC launch will help fuel further growth. The company added that it will continue to work with the Hyperliquid community, expanding investments and partnerships to drive adoption.

Meanwhile, buzz surrounding Hyperliquid’s own USDH stablecoin is growing separately. After a week-long intense competition by various issuers to launch the asset, Native Markets was recently awarded the USDH ticker, now expected to launch in the coming days. As reported earlier by crypto.news, early operations will begin with limited transactions before a broader rollout that includes a USDH/USDC trading pair.