Circle Goes Native on Hyperliquid with USDC and HYPE Stake

Circle is bringing native USDC to the Hyperliquid derivatives chain. The stablecoin issuer is also becoming a direct stakeholder in the ecosystem via a HYPE token investment.

The move follows a week-long contest to launch a new native stablecoin, USDH, which was won by startup Native Markets.

Despite the new entrant, Circle’s deep integration and existing dominance—with $6B in reserves on the platform—solidifies USDC’s central role for Hyperliquid traders. The upgrade includes Circle’s cross-chain protocol for improved user mobility.