Circle To Launch Native USDC On Hyperliquid, HYPE Surges 3%

Circle’s USDC is headed to Hyperliquid in an integration poised to streamline stablecoin transfers across several chains. Both entities are recording meteoric growth metrics over the last month, with Hyperliquid’s AUM surging to $5.5 billion in July.

Circle To Introduce Native USDC On Hyperliquid Via CCTP v2

According to a blog post by stablecoin issuer Circle, its native USDC is poised to make a debut on Hyperliquid in the near term. Circle revealed that the integration will lean on its Cross-Chain Transfer Protocol (CCTP v2), allowing native USDC to move securely across multiple blockchains.

Per the arrangement, Hyperliquid users will not require wrapped tokens or custodial bridgers to move native USDC. With Circle’s CCTP v2, developers will be able to build apps for cross-chain onboarding, swaps, and treasury rebalancing, among other use cases.

Meanwhile, Hyperliquid users can use native USDC as collateral for trading perpetuals or as the quote asset for spot pairs. However, the disclosure did not reveal a launch date for the integration as both mainnet and testnet addresses remain under wraps.

Hyperliquid has been a beehive of activity over the last month, hitting a $10.6 billion open interest as HYPE set an ATH.

This is a developing story

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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