Catenaa, Thursday, September 18, 2025-Stablecoin issuer Circle has launched a native version of its USDC token on Hyperliquid, the largest onchain derivatives trading platform.
The rollout began Tuesday on Hyperliquid’s Ethereum-compatible HyperEVM network and will later expand to HyperCore, Circle said. The firm is also integrating its upgraded Cross-Chain Transfer Protocol, known as CCTP v2, to enable faster and cheaper token movement across networks.
Hyperliquid already holds nearly $6 billion in USDC reserves, according to DeFiLlama data. The move follows the platform’s recent decision to back a community-selected stablecoin, USDH, managed by startup Native Markets. That token is undergoing a phased launch on HyperEVM.
Circle, which listed on the New York Stock Exchange in June, said the integration will reduce barriers for fintechs, exchanges and service providers working with Hyperliquid. The company also plans to expand incentive programs to drive USDC adoption and is considering becoming a Hyperliquid validator.
Chief Executive Jeremy Allaire said Circle’s strategy focuses on long-term value by building products and expanding distribution, aiming at what he described as a future internet economy worth hundreds of trillions of dollars.
Hyperliquid accounted for almost $150 billion in trading volume in September, dwarfing other onchain platforms but still trailing centralized exchanges such as Binance. With more than $73 billion in circulation, USDC is already live on over 20 networks including Ethereum, Solana, Polygon and Sui.
