Circle Partners with Hyperliquid for Deeper USDC Expansion

Circle is announcing a partnership with Hyperliquid, bringing USDC integration to the popular blockchain. The stablecoin issuer is bringing Native USDC and CCTP V2 on HyperEVM.

The company plans to make this a long-term collaboration, offering new tools for Hyperliquid developers. Circle may even become an ecosystem validator in the future, as it’s already a stakeholder.

Circle and Hyperliquid Partner Up

Hyperliquid has been in the headlines lately, hitting an all-time high as its proposed USDH stablecoin led to new governance structures. Today, however, Hyperliquid is involved with a totally different stablecoin, as it conducted a major USDC expansion with Circle:

Circle x Hyperliquid expansion. Circle is proud to bring trusted liquidity, interoperability, and support for builders into one of the most innovative platforms in crypto.Read more:

— Circle (@circle)

Jeremy Allaire, co-founder and CEO of Circle, spoke extensively about the details of this Hyperliquid expansion.

He claimed that this partnership is a “major milestone,” officially launching native USDC and CCTP V2 on HyperEVM. This will integrate the firm’s technical achievements with Hyperliquid’s dedicated user base.

Future Plans For Collaboration

Circle is also investing in HYPE, directly becoming a Hyperliquid stakeholder, and the firm is even considering becoming a system validator. Allaire spoke about Hyperliquid’s own team in glowing terms, suggesting that this is the groundwork for a long-term partnership.

Circle’s stablecoin has a lot to bring to Hyperliquid, not counting its technical capabilities. Allaire pointed out that the firm has minted well over 1 trillion USDC tokens in its history, having recently issued a huge reserve.

In other words, there is a gargantuan reserve of liquidity that Hyperliquid traders can access.

The stablecoin issuer, for its part, can ensure that it remains highly relevant in a dynamic Web3 ecosystem. Circle has planned several measures to integrate with Hyperliquid’s community, creating several tools and incentives to work with the blockchain’s developers.

In short, this partnership can be mutually beneficial for both firms and the broader industry. Circle is still the second-largest stablecoin company, but this Hyperliquid deal shows its commitment to being an industry leader.