Circle Becomes Direct Stakeholder in Hyperliquid With Initial HYPE Token Investment

Circle, the company behind the widely used USDC stablecoin, has announced its official entry into the Hyperliquid ecosystem.

The move, revealed in a blog post announcement, includes native USDC integration, an investment in the platform’s HYPE token, and new support programs for developers building on Hyperliquid’s infrastructure.

USDC integration and cross-chain liquidity

A central piece of Circle’s plan is the deployment of native USDC on Hyperliquid’s HyperEVM layer, powered by its Cross-Chain Transfer Protocol (CCTP) Version 2.

CCTP allows users to transfer USDC between networks through a burn-and-mint process, removing the reliance on wrapped or bridged assets. According to Circle, this approach simplifies user experience while improving capital efficiency for traders and developers.

Initial tests of USDC on HyperEVM’s mainnet have already been observed by blockchain researchers, and Circle has confirmed that direct deposits and interoperability on HyperCore are underway.

With USDC accounting for more than 95% of Hyperliquid’s stablecoin volume, roughly $286 million in daily trading as of mid-September, native integration is expected to deepen liquidity and reduce friction across DeFi markets built on the chain.

HYPE token investment and builder support

Beyond stablecoin integration, Circle has taken a direct stake in Hyperliquid through an initial purchase of around 80,000 HYPE tokens, valued at approximately $4.6 million.

The firm described this investment as the start of a longer-term partnership, adding that it is considering participation as a validator in Hyperliquid’s 16-node security network.

Circle also highlighted its plans to support developers through Hyperliquid’s HIP-3 framework, which enables decentralized listing of perpetual futures markets via Dutch auctions.

By funding builder initiatives on HyperEVM and HIP-3, Circle aims to accelerate ecosystem growth while aligning token incentives with network activity.

The timing of Circle’s entry comes as Hyperliquid prepares for the rollout of its own native stablecoin, USDH, following a competitive governance process earlier this month.

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