Circle Invests in Hyperliquid While Launching Native USDC
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The company launched USDC natively on HyperEVM, Hyperliquid's smart contract layer, marking the first step toward enabling deposits into the platform's spot and perpetuals exchange. Circle went public on June 5 and issues the dollar-backed stablecoin redeemable at 1:1 ratios. Circle first announced expansion plans into Hyperliquid during July 2025. A company spokesperson confirmed Tuesday's launch simply delivers on that previously outlined roadmap for ecosystem integration. The announcement comes after Hyperliquid's validator community selected Native Markets to issue the protocol's upcoming native stablecoin called USDH. This decision followed a competitive process drawing bids from major firms including Paxos, Frax, Sky, Agora, Ethena, OpenEden and BitGo. Currently, about 430 million HYPE tokens are staked across the network. Leading validators include Galaxy Digital, Flowdex, and the Hyper Foundation, which supports the protocol's ongoing development efforts. Circle's potential validator role would position the company directly within Hyperliquid's consensus mechanism. This represents deeper integration beyond simply providing stablecoin infrastructure for the growing derivatives platform and its expanding DeFi ecosystem.
