Categories: Crypto

Circle to bring USDC and CCTP v2 to Hyperliquid

Key Takeaways

Circle will launch native USDC and CCTP v2 on Hyperliquid’s platform.
The integration enables seamless USDC transfers and new DeFi use cases on Hyperliquid.

Circle will bring native USDC and Cross-Chain Transfer Protocol (CCTP) version 2 to Hyperliquid, a popular decentralized exchange, the company announced today.

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The deployment of native USDC and CCTP v2 on HyperEVM will unlock seamless USDC transfers into Hyperliquid’s ecosystem, including HyperCore’s decentralized exchange and HyperEVM’s smart contract layer. The integration deepens liquidity sharing and expands its on-chain utility.

The native USDC implementation will provide users with a regulated, fully reserved digital dollar that can be redeemed 1:1 for US dollars. Through Circle Mint, eligible users will have access to institutional on- and off-ramps.

With CCTP v2, users can transfer native USDC with 1:1 capital efficiency between Hyperliquid and supported blockchains. This functionality allows developers to develop applications for onboarding, swapping, purchasing, and rebalancing the treasury.

The integration supports several use cases within the Hyperliquid ecosystem, including perpetuals and spot trading, where USDC serves as collateral or a quote asset. Developers can also utilize USDC in HyperEVM applications for fast settlements and cross-chain transfers.

Circle recently launched its USDC stablecoin on the World project, incorporating faster transfer capabilities via its updated Cross-Chain Transfer Protocol.