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7mo ago

Circle Deploys Native USDC and CCTP V2 on Hyperliquid’s HyperEVM Layer

Embedding fully reserved USDC into Hyperliquid’s trading layer cuts bridge risks, boosting settlement speed.

Circle chooses Hyperliquid as its next USDC stronghold amid $5.5b AUM boom
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Circle to introduce native USDC and CCTP v2 on Hyperliquid

Overview

  • Circle will integrate native USDC and its upgraded Cross-Chain Transfer Protocol V2 directly into Hyperliquid’s HyperEVM layer.
  • Native USDC brings a regulated, fully reserved digital dollar that eligible users can mint and redeem 1:1 for US dollars via Circle Mint.
  • CCTP V2 enables seamless, one-to-one transfers of native USDC between Hyperliquid and supported blockchains, removing the need for custodial bridges.
  • The deployment aligns stablecoin issuance with Hyperliquid’s $150 billion in monthly derivatives volume and over $5.5 billion in assets under management.
  • Developers can leverage native USDC and CCTP V2 on HyperEVM to build cross-chain DeFi applications for onboarding, swapping, purchasing and treasury rebalancing.