Circle Debuts Native USDC on HyperEVM with CCTP V2

Published: 2025-09-17 02:18:11 |

Circle has launched native USDC on Hyperliquid’s HyperEVM blockchain, integrating its updated Cross-Chain Transfer Protocol V2 (CCTP V2) to enable seamless cross-chain USDC transfers without wrapped tokens or third-party bridges. USDC on HyperEVM maintains a 1:1 peg to the US dollar and supports direct on- and off-ramps via Circle Mint. Developers can integrate USDC on HyperEVM without modifying existing code, while traders and institutions gain instant access to regulated stablecoin liquidity and Hyperliquid’s DEX and perpetual trading services. The CCTP V2 mechanism securely burns USDC on the origin chain and mints it on the destination chain, reducing counterparty risk, bridge fees and improving transaction speed and transparency. The rollout also sets the stage for future spot and perpetual market integration between HyperEVM and HyperCore, with planned cross-chain transfers via CCTP V2. Circle’s strategic investment in Hype Tokens and its intention to become a Hyperliquid validator strengthen ecosystem ties. Built on Circle’s global on-demand liquidity network—which has facilitated nearly $40 trillion in on-chain transactions—this enhancement expands trusted stablecoin infrastructure and could boost cross-chain USDC liquidity, trading volumes and institutional participation on Hyperliquid.

Neutral

USDC is a stablecoin pegged to the US dollar, so its market price remains unaffected by protocol integrations. However, integrating native USDC on HyperEVM via CCTP V2 can enhance cross-chain liquidity, reduce fees and streamline institutional and developer access. In the short term, traders gain new avenues for efficient USDC transfers and trading on Hyperliquid’s DEX and perpetual markets. Over the long term, the broader adoption and reduced counterparty risks could boost trading volumes and strengthen USDC’s utility, yet its dollar peg ensures minimal price volatility.