Circle to Launch Native USDC and Upgraded CCTP on Hyperliquid as Platform Surpasses $5.5 Billion in AUM

Circle Internet Group, Inc. (NYSE: CRCL) has announced that its native USDC and the latest version of its Cross-Chain Transfer Protocol (CCTP V2) will soon go live on Hyperliquid, a growing decentralized finance (DeFi) trading platform. This rollout marks another step in Circle’s mission to expand USDC’s utility across next-generation blockchain networks.

USDC Integration into Hyperliquid Ecosystem

According to Circle’s official blog, USDC will be natively integrated into HyperEVM, Hyperliquid’s smart contract platform. This means users will be able to deposit USDC across both HyperCore—the platform’s foundational infrastructure—and any decentralized applications built on HyperEVM.

The deployment also introduces CCTP V2, which enables seamless and capital-efficient movement of USDC between Hyperliquid and other blockchain ecosystems. Circle emphasized that USDC issued on Hyperliquid will maintain its 1:1 backing with U.S. dollars, remaining fully regulated and redeemable. Institutional users will also benefit from compatibility with services like Circle Mint, offering robust on/off-ramp options.

Explosive Growth in Hyperliquid’s AUM

The timing of this launch coincides with a significant surge in Hyperliquid’s total assets under management (AUM), which recently crossed $5.5 billion, up from less than $4 billion earlier in the same month. A substantial portion of this growth—over $1.2 billion—is attributed directly to USDC inflows.

Currently, Hyperliquid dominates stablecoin activity on Arbitrum, capturing approximately 70% of the network’s USDC volume. This new integration further solidifies the platform’s position as a leading destination for stablecoin-based trading and liquidity.

Developer and User Benefits

The integration of native USDC on Hyperliquid offers a wide range of applications. Traders can use USDC as collateral for perpetual futures contracts or as a base currency for spot trading pairs. Developers building on HyperEVM can incorporate USDC into a range of products, including treasury management tools, financial applications, and consumer-facing payment systems.

Additionally, CCTP V2 enhances cross-chain functionality, supporting use cases like token swaps, onboarding across chains, and dynamic portfolio management—all with reduced friction and improved capital efficiency.

Details regarding the exact mainnet and testnet contract addresses for USDC on Hyperliquid will be disclosed shortly. Circle is encouraging both developers and users to join its community on Discord to stay informed and participate in launch discussions.

Expanding the Role of USDC in DeFi

As USDC continues to be adopted across high-performance DeFi networks like Hyperliquid, its role as a trusted digital dollar standard gains momentum. This expansion follows Circle’s earlier announcement this month of a partnership with Binance, introducing USYC, a yield-generating stablecoin designed for institutional traders.

Binance’s institutional platform will now support USYC, enabling users to deploy it as off-exchange collateral in derivatives markets. This move aligns with traditional finance strategies and reflects the ongoing maturation of crypto-based financial instruments.