Circle Launches Native USDC and CCTP v2 on Hyperliquid to Boost DeFi Efficiency

Circle has launched native USDC and the Cross-Chain Transfer Protocol (CCTP) v2 on Hyperliquid, marking a significant expansion of its stablecoin’s utility within the DeFi ecosystem. The integration enables direct transfers of USDC between Hyperliquid and other blockchains, bypassing the need for wrapped tokens or centralized bridges. This move enhances capital efficiency and reduces security risks, according to the company [3].

The deployment of native USDC, backed 1:1 by U.S. dollars and supported by Circle Mint, provides institutional and retail users with a compliant and efficient on- and off-ramp to the Hyperliquid platform. The upgrade also allows USDC to function as collateral and quote assets for both spot and perpetual trading on Hyperliquid’s decentralized exchange [4].

Hyperliquid’s infrastructure is built on two key components: HyperCore, a high-performance order book DEX, and HyperEVM, an Ethereum Virtual Machine-compatible smart contract platform. Both operate under the HyperBFT consensus mechanism, enabling near real-time data synchronization and supporting up to ~200,000 orders per second. The platform’s architecture is designed to facilitate fast and secure DeFi operations [5].

The integration of CCTP v2 via HyperEVM enables a “burn-and-mint” model for cross-chain USDC transfers, further minimizing reliance on intermediaries and enhancing trustless interactions. This model mirrors previous successful integrations of native USDC on blockchains such as Arbitrum, which contributed to increased total value locked (TVL) and broader DeFi participation [3].

Hyperliquid’s AUM has surged to $5.5 billion in July 2025, up from below $4 billion a month earlier. The platform has also captured approximately 70% of USDC on Arbitrum, reflecting strong institutional and retail adoption. This liquidity growth is attributed to improved cross-chain efficiency and the expanding utility of USDC within the DeFi ecosystem [5].

The HYPE token has shown a positive response to the integration, trading at $43.97 with a 4.07% increase in a single day. The token’s price remains above its 50-day EMA at $40.93, and daily trading volume reached 186.9K, signaling heightened market activity [5]. While the RSI remains neutral, the price’s alignment with the EMA indicates continued buyer support.

Circle, led by CEO Jeremy Allaire, emphasized the strategic importance of the integration, stating that the launch represents a key advancement in cross-chain DeFi infrastructure. The company aims to expand native USDC’s presence across multiple blockchain ecosystems, leveraging platforms like Hyperliquid to enhance liquidity and usability [3].

Contract addresses for USDC on Hyperliquid have not yet been disclosed but are expected to be announced ahead of the full deployment. The move aligns with Circle’s broader objective to strengthen USDC’s role in institutional and DeFi markets, offering secure and scalable cross-chain operations [5].

Source:

[1] Native USDC & CCTP V2 are Coming to Hyperliquid (https://www.circle.com/blog/native-usdc-cctp-v2-are-coming-to-hyperliquid-what-you-need-to-know)

[2] Circle to Launch Its Native USDC Stablecoin on Hyperliquid (https://coinedition.com/hyperliquid-integrates-circles-usdc-and-cctp-v2-to-boost-defi-ecosystem/)

[3] Circle Launches Native USDC and CCTP v2 on Hyperliquid (https://www.ainvest.com/news/circle-launches-native-usdc-cctp-v2-hyperliquid-boosting-defi-efficiency-2508/)

[4] Circle Announces Native USDC and CCTP V2 Integration (https://cryptodnes.bg/en/circle-announces-native-usdc-and-cctp-v2-integration-on-hyperliquid/)