BitGo has announced the launch of HyperEVM support, providing secure access and custody services for institutional users in the Hyperliquid ecosystem.
BitGo's HyperEVM Support
BitGo stated that its custody service is now live for Hyperliquid, allowing institutional users to access HyperEVM. The new solution enables qualified custody, allowing institutional investors to interact with assets on the HyperEVM, including the native token HYPE.
Integration with DeFi Platform
This integration allows users to utilize self-custody wallets, decentralized applications, and participate in governance. The platform's products also include stablecoins, staking solutions, settlement, real-world assets, collateral, and wealth management.
Hyperliquid Growth and Interest in HYPE
HyperEVM is the Ethereum-compatible smart contract layer of Hyperliquid, which plays a key role in attracting DeFi users. Currently, more than $2.53 billion is locked on the platform, and the stablecoin market cap exceeds $5.58 billion. Increased interest in HYPE has recently pushed open interest to a new all-time high of $2.17 billion.
BitGo's support provides institutional clients the ability to confidently engage with the Hyperliquid ecosystem, potentially leading to further growth in interest around the HYPE token and its offerings.
