Circle deploys native USDC and CCTP v2 on Hyperliquid, eliminating the need for third-party bridges for secure, traceable, and instant fund transfers.
Farewell Bridges, Embrace the Native
The second-largest stablecoin in the market arrives in native form on Hyperliquid. And it’s not just a technical addition but a game-changer for the ecosystem.
Until now, users of Hyperliquid had to rely on third-party bridges to transfer USDC. A temporary, risky, and sometimes costly solution. But now, Circle takes control: USDC can be issued and redeemed directly on Hyperliquid via Circle Mint, with a 1:1 guarantee and total traceability.
Another revolution: CCTP v2, Circle’s in-house protocol, will enable native inter-chain transfers, without wrapping or loss of value. Burn on the source chain, mint on the target chain. Simple, fast, secure.
An Strategic Announcement for Circle
Hyperliquid is on fire. The volume in USDC on the platform has skyrocketed this year, surpassing $4.9 billion in July. Concurrently, on-chain perpetual trading is experiencing rapid growth, attracting traders and capital.
Circle seizes the opportunity. By integrating its stablecoin directly into HyperEVM (Hyperliquid’s virtual machine), the company cements its position as a key infrastructure for new decentralized derivative markets.
And this is just the beginning. Circle aims to make USDC a chain-agnostic asset, fluid and native on all relevant networks. After Base, Solana, or Arbitrum, it’s Hyperliquid’s turn to join the club.
Less Friction, More Trust
With this deployment, the benefits are tangible:
– Reduced risks of exploits or fund loss
– Easier treasury management for builders
– Simplified onboarding for dApps and institutions
Circle also strengthens its ecosystem with Circle Gateway, a unified USDC balance management layer designed to erase boundaries between chains.
Impact on Arbitrum’s TVL?
Arbitrum still dominates L2 with a TVL of over $16 billion in 2025. This DeFi stronghold relies largely on stablecoin flows, native and bridged USDC integrated into various protocols.
However, this system could be shaken. The gateway to Hyperliquid through Arbitrum, which previously channeled USDC through the layer 2 before landing on Hyperliquid, is now disrupted with the arrival of native USDC on Hyperliquid.
A Response to Pressured Infrastructure
Perfect timing: this announcement comes as Hyperliquid recovers from a major API incident due to a traffic spike. No hacks were reported, but significant disruptions occurred. The protocol has promised automatic refunds to affected users.