Circle Launches Native USDC and CCTP V2 on Hyperliquid as Platform Tops $5.5B AUM Circle Internet Group, Inc. (NYSE: CRCL) has announced the upcoming launch of its native USDC stablecoin and Cross-Chain Transfer Protocol (CCTP) V2 on Hyperliquid, a decentralized finance (DeFi) trading platform.

Native @USDC and CCTP V2 are coming soon to @HyperliquidX.

What native USDC brings:

- ✅ A regulated, fully reserved stablecoin, redeemable 1:1 for US dollars

- ✅ Institutional on/offramps via Circle Mint

- ✅ Liquidity for DeFi, trading, perps, and more

What CCTP V2 unlocks:

- ✅ Capital-efficient cross-chain USDC transfers

— Circle (@circle) July 31, 2025 USDC and CCTP V2 Go Live on Hyperliquid Circle will deploy USDC on HyperEVM, Hyperliquid's general-purpose smart contract layer. This update enables USDC deposits across HyperCore—the protocol’s core infrastructure—and any application built on HyperEVM. CCTP V2 facilitates capital-efficient movement of USDC between Hyperliquid and other supported blockchains. Circle emphasized that USDC issued on Hyperliquid remains a fully reserved, regulated digital dollar, redeemable 1:1 with U.S. dollars. Institutional-grade on/off-ramps like Circle Mint will be supported for eligible users. Hyperliquid Captures USDC Market Share This integration coincides with Hyperliquid dominating USDC volume on Arbitrum, controlling 70% of the network’s stablecoin liquidity. Hyperliquid’s total assets under management (AUM), including its core protocol and services like Unit, surged past $5.5 billion, growing by approximately $1.5 billion in July alone. Of that, $1.2 billion was driven specifically by USDC inflows. Key Use Cases and Developer Benefits USDC on Hyperliquid can be used as collateral for perpetual contracts or as the quote asset for spot trading pairs. Developers can integrate USDC into HyperEVM-based applications to leverage fast settlement and seamless cross-chain functionality for building financial tools, treasury management apps, or consumer payment experiences. CCTP V2’s capital-efficient bridging supports cross-chain onboarding, token swaps, and portfolio rebalancing, all designed for a frictionless user experience. Mainnet and testnet addresses for USDC on Hyperliquid will be announced soon. Circle encourages developers and users to follow launch updates and engage with their team on Discord. As USDC expands its native footprint into high-performance DeFi chains like Hyperliquid, its role as the digital dollar standard in crypto continues to strengthen. Binance to Accept Circle’s Yield-Bearing Stablecoin USYC Earlier in July, Circle announced a partnership with Binance, the world’s largest digital asset exchange, to list its yield-bearing stablecoin USYC on Binance’s institutional trading platform. This allows Binance’s institutional clients to hold and use USYC—a tokenized money market fund (TMMF)—as off-exchange collateral for derivatives trades. The arrangement mirrors traditional finance practices, enabling traders to unlock additional yield opportunities while maintaining capital flexibility.

Source: Circle Launches Native USDC and CCTP V2 on Hyperliquid as Platform Tops $5.5B AUM on July 31, 2025

Frequently Asked Questions (FAQ)

About the Integration

Q: What is being launched on Hyperliquid? A: Circle is launching its native USDC stablecoin and the Cross-Chain Transfer Protocol (CCTP) V2 on the Hyperliquid decentralized finance (DeFi) trading platform. Q: What are the benefits of native USDC on Hyperliquid? A: Native USDC on Hyperliquid offers a regulated, fully reserved stablecoin redeemable 1:1 for U.S. dollars. It also provides institutional on/off-ramps via Circle Mint and enhances liquidity for DeFi, trading, and perpetuals. Q: What does CCTP V2 enable? A: CCTP V2 facilitates capital-efficient cross-chain transfers of USDC between Hyperliquid and other supported blockchains. Q: What is Hyperliquid? A: Hyperliquid is a decentralized finance (DeFi) trading platform that utilizes HyperEVM, its general-purpose smart contract layer.

Usage and Functionality

Q: How can USDC be used on Hyperliquid? A: USDC on Hyperliquid can be utilized as collateral for perpetual contracts or as the quote asset for spot trading pairs. Q: What are the benefits for developers? A: Developers can integrate USDC into HyperEVM-based applications to leverage fast settlement and seamless cross-chain functionality for building financial tools, treasury management apps, or consumer payment experiences. Q: What are the use cases for CCTP V2? A: CCTP V2 supports capital-efficient cross-chain onboarding, token swaps, and portfolio rebalancing with a focus on a frictionless user experience.

Hyperliquid's Growth

Q: How is Hyperliquid performing regarding USDC? A: Hyperliquid has captured significant USDC market share, dominating USDC volume on Arbitrum and controlling 70% of the network's stablecoin liquidity. Q: What is Hyperliquid's current AUM? A: Hyperliquid's total assets under management (AUM) have surpassed $5.5 billion, with $1.2 billion driven by USDC inflows in July alone. ##Crypto Market AI's Take Circle's expansion of native USDC and CCTP V2 onto high-performance chains like Hyperliquid signifies a growing trend towards greater utility and accessibility for stablecoins within the DeFi ecosystem. As the crypto market continues to mature, such integrations are crucial for fostering broader adoption and enabling more sophisticated financial applications. For users looking to leverage these advancements, understanding the interplay between stablecoins and DeFi protocols is key. Our platform at Crypto Market AI offers tools and insights to navigate these developments, including market analysis and AI-driven trading strategies that can help capitalize on the evolving DeFi landscape. ##More to Read:

Circle Launches Native USDC on CCTP V2 on Hyperliquid

Frequently Asked Questions (FAQ)

About the Integration

Usage and Functionality

Hyperliquid's Growth