Circle Launches Native USDC on HyperEVM, Becomes Stakeholder in Hyperliquid

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Circle has hit a major milestone with the Hyperliquid ecosystem.

Native USDC and CCTP V2 Now Live on HyperEVM

In a latest blog post, it announced the official launch of Native USDC and CCTP V2 on HyperEVM. This brings the world’s most reliable and liquid dollar stablecoin directly to the Hyperliquid community. 

Developers, institutions, and traders can now access the world’s largest regulated stablecoin on HyperEVM, with the ability to securely make cross-chain deposits from more than a dozen blockchains. 

In the coming weeks, direct deposits and CCTP interoperability for Hyperliquid USDC on HyperCore will also go live.

With native USDC on HyperEVM, CCTP V2 interoperability, and upcoming HyperCore support, Hyperliquid users and developers can easily move digital dollars across the entire crypto ecosystem. Fintechs, on/off-ramp providers, and other services can also integrate seamlessly with Hyperliquid with the most liquid digital dollar in the world. 

Circle: A Direct Stakeholder in Hyperliquid 

Notably, Circle has now become a direct stakeholder in the Hyperliquid ecosystem with their first HYPE token investments and launched a program to collaborate with the most innovative HIP-3 and HyperEVM builders. The team is also exploring the possibility of becoming a Hyperliquid Validator.

Circle said in the blog post that connecting with the Hyperliquid core team and many startups and developers building on HyperEVM and HIP-3 over the past few months has been a real pleasure. They called the community’s energy, creativity, and innovation one of the most impressive in the crypto ecosystem.

“Strong Validation of Hyperliquid”

Matthew Sigel reacted to the news, calling it a major milestone. He described it as a clear validation of Hyperliquid’s status as an independent Layer 1.

Major milestone: Circle brings USDC natively to Hyperliquid. Clear validation of Hyperliquid’s status as an independent L1. https://t.co/zJRjHx6X1g

— matthew sigel, recovering CFA (@matthew_sigel) September 16, 2025

Analyst DeFiyst highlighted this as a “last-ditch effort” to save the $5.3 billion USDC on Hyperliquid that is expected to be swapped into USDH. He notes that while this represents only about 7% of USDC in circulation, it could account for 12–15% of Circle’s revenue once fees paid to exchanges and chains are considered. 

USDH Set to Launch

This comes ahead of Hyperliquid’s upcoming native stablecoin, USDH. Native Markets has secured the USDH ticker. This followed a community-led governance process and a competitive bidding phase that included major firms like Paxos, BitGo, Ethena, and Frax, highlighting strong community support.