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Circle to Launch Native USDC and CCTP V2 on Hyperliquid Blockchain

Circle to Launch Native USDC and CCTP V2 on Hyperliquid Blockchain

Circle advances DeFi integration by launching native USDC and CCTP V2 on Hyperliquid's HyperEVM chain, alongside a direct investment in the platform.

USDC
HYPE

Fact Check
The statement is directly confirmed by the primary source, Circle's official blog (Source 1, 8), which announced that native USDC and CCTP V2 are 'coming soon to Hyperliquid'. This is extensively corroborated by all other provided secondary sources from various crypto news outlets.
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Summary

Circle has launched native USDC and the upgraded Cross-Chain Transfer Protocol (CCTP V2) on Hyperliquid’s HyperEVM chain, enhancing interoperability and liquidity. The stablecoin issuer also invested in Hyperliquid (HYPE) and is considering a validator role. This move supports the platform’s rapid growth, with Hyperliquid’s market cap surpassing $14 billion and processing over $383 billion in monthly trading volume. Circle aims to foster further DeFi innovation and adoption of USDC within Hyperliquid’s ecosystem.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin issued by Circle, designed to provide price stability in digital transactions.
  • Cross-Chain Transfer Protocol (CCTP) V2: An upgraded protocol from Circle that enables direct cross-chain transfers of USDC by burning on the source chain and minting on the destination chain.
  • HyperEVM: An Ethereum Virtual Machine-compatible environment within the Hyperliquid ecosystem that supports smart contract execution and decentralized applications.