Circle Launches Native USDC on Hyperliquid, Invests in $HYPE Tokens

Circle, the issuer of USD Coin (USDC), has announced its expansion into the Hyperliquid ecosystem through a dual move: investing directly in $HYPE tokens and launching native USDC on Hyperliquid’s HyperEVM network.

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: https://t.co/2hbfNIHFn9 pic.twitter.com/21y6cyAvW6
— Circle (@circle) September 16, 2025

This development comes just before the anticipated launch of USDH, Hyperliquid’s upcoming native stablecoin, which is set to compete directly with USDC.

Native USDC and CCTPv2 Go Live on HyperEVM

In an official blog post, Circle revealed that it has deployed native USDC and CCTPv2 on HyperEVM, extending stablecoin access to Hyperliquid’s community. The company also confirmed upcoming support for USDC deposits and cross-chain interoperability via CCTP in the coming weeks.

Circle further emphasized its long-term commitment by becoming a direct stakeholder in the Hyperliquid ecosystem through its initial investment in $HYPE. The company is also evaluating whether to become a Hyperliquid validator while collaborating with HyperEVM builders.

Previously, USDC was the leading stablecoin on the Hyperliquid DEX, but users had to bridge it via Arbitrum. With this launch, USDC is now natively integrated.

Strategic Timing Ahead of USDH Launch

Circle’s move is strategically timed, as USDH, Hyperliquid’s own native stablecoin, is preparing to go live. USDH will compete directly with USDC for dominance in the ecosystem.

According to CoinMarketCap, $HYPE is currently trading at $53.61, up 2.2% in the past 24 hours, amid growing excitement around the news.

Industry Reactions: A Milestone for Hyperliquid

VanEck’s Head of Research Matthew Sigel called Circle’s expansion a “major milestone,” validating HyperEVM’s status as a serious Layer-1 network.
Crypto trader DeFiyst suggested this may be Circle’s “last big push” to retain over $5.3 billion worth of USDC liquidity on Hyperliquid before USDH’s debut.
Analyst Pajke predicted that Circle’s expansion could act as a catalyst, potentially pushing $HYPE prices into triple digits.
?Major milestone: Circle brings USDC natively to Hyperliquid. Clear validation of Hyperliquid’s status as an independent L1. https://t.co/zJRjHx6X1g
— matthew sigel, recovering CFA (@matthew_sigel) September 16, 2025

Meanwhile, Paxos and Agora are already in the running to issue USDH, while Ethena had submitted a proposal but later withdrew.

With Circle stepping in as both a stablecoin competitor and ecosystem investor, Hyperliquid’s Layer-1 future and stablecoin wars are heating up rapidly.