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Circle (CRCL) is launching a native version of USDC and its Cross-Chain Transfer Protocol v2 on Hyperliquid’s HyperEVM, as part of a deeper integration into the onchain derivatives giant’s ecosystem.
What’s the Scoop?
- Native USDC on Hyperliquid: USDC is now live on HyperEVM, with support for HyperCore coming soon. Circle’s upgraded CCTP v2 integration will enable seamless transfers across over a dozen supported chains.
- Stakeholder Status: Circle has purchased HYPE tokens and is exploring becoming a
Hyperliquid validator, signaling long-term alignment with the platform and its governance. - USDH Still Launching: Circle’s push comes just after Native Markets was chosen to issue USDH, Hyperliquid’s compliant, native stablecoin. USDC will remain supported as a quote asset if it meets staking and liquidity thresholds.
- $6B+ in USDC Held: USDC is already dominant on Hyperliquid, with nearly $6 billion in reserves. Circle’s new incentives aim to expand usage across on- and off-ramp services, fintechs, and DeFi protocols.
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