Circle Expands USDC Reach with Native Launch on Hyperliquid Chain

USDC News - Circle has launched a native version of its USDC stablecoin on the Hyperliquid chain, complementing the existing bridged USDC supply valued at over $5.9 billion. This strategic expansion ensures USDC maintains its presence alongside Hyperliquid's native USDH stablecoin on the perpetual futures decentralized exchange. The move includes Circle's acquisition of HYPE tokens, making the company a stakeholder in the Hyperliquid ecosystem. Jeremy Allaire, Circle's co-founder, announced additional infrastructure developments featuring a HyperEVM version and upgraded cross-chain transfer capabilities through CCTP V2. The launch coincides with Hyperliquid's preparations to debut its USDH stablecoin, creating a competitive yet collaborative stablecoin environment on the platform. Circle recently bridged 2 million USDC to the chain ahead of the official announcement.