Hyperliquid integrates Circle’s USDC and CCTP V2 on HyperEVM for cross-chain deposits and institutional access

Key Takeaways

• Hyperliquid now supports native USDC stablecoin deposits via Circle's Cross-Chain Transfer Protocol V2 on its Ethereum-compatible HyperEVM platform.
• The integration enables users to move USDC seamlessly across chains without third-party bridges, as CCTP V2 handles burning and minting of USDC between networks.

Hyperliquid integrated Circle’s USDC stablecoin and Cross-Chain Transfer Protocol V2 on its HyperEVM platform today to enable cross-chain deposits and institutional access.

The integration allows users to move USDC across different blockchain networks through Circle’s CCTP V2 infrastructure on Hyperliquid’s Ethereum Virtual Machine-compatible platform. The move expands access for institutional users seeking to interact with Hyperliquid’s decentralized exchange and perpetual trading services.

HyperEVM serves as Hyperliquid’s layer designed to support Ethereum-compatible smart contracts and applications. The addition of native USDC support through Circle’s protocol eliminates the need for wrapped versions of the stablecoin on the platform.

Circle’s CCTP V2 facilitates the transfer of USDC between supported blockchains without requiring users to bridge tokens through third-party protocols. The system burns USDC on the origin chain and mints an equivalent amount on the destination chain.