Circle has announced a strategic deployment of its native USDC and Cross-Chain Transfer Protocol V2 on the Hyperliquid platform. This decision follows a significant inflow of USDC and strengthens Circle's position in the DeFi ecosystem.
Deployment of USDC and CCTP V2 on Hyperliquid
According to a press release dated July 31, Circle will launch native USDC and its Cross-Chain Transfer Protocol V2 on Hyperliquid, marking an important step for the stablecoin issuer.
The integration will allow direct minting and redemption of USDC via Circle Mint on Hyperliquid’s HyperEVM layer and enable seamless capital movement between supported blockchains with 1:1 efficiency.
Strategic Importance for Circle
Circle’s decision to bring native USDC to Hyperliquid reflects the migration of real trading volume. Hyperliquid has become an important platform for derivatives trading, processing $150 billion in monthly volume while commanding an 83% share of decentralized perpetuals trading.
For Circle, this reinforces the principle that liquidity follows activity. By enabling direct minting and redemptions through Circle Mint and deploying CCTP V2, Circle is positioning itself where traders are already making significant volumes.
Benefits of Integration
The mechanics are critical. Unlike bridged or wrapped alternatives, native USDC on Hyperliquid's HyperEVM allows traders and developers to interact with the actual asset, eliminating third-party custodians and mitigating redemption delays.
This is vital for a platform where USDC functions not only as collateral but also as the primary settlement currency for billions in derivatives trades.
The integration of USDC and CCTP V2 on Hyperliquid offers Circle new opportunities for growth in DeFi and strengthens its position amid increasing trading and investment volumes.
