Circle responds to Hyperliquid’s stablecoin with investment, native USDC rollout
Circle is now a HYPE holder, has introduced native USDC to Hyperliquid and is considering becoming a network validator.
Stablecoin issuer Circle is expanding into Hyperliquid with an investment and the launch of native USD Coin on the protocol, as stablecoin competition on the network intensifies.
According to a Tuesday announcement, Circle is now a stakeholder in the Hyperliquid ecosystem, directly holding its native cryptocurrency Hyperliquid (HYPE). Circle is also considering becoming a validator for the protocol.
The company, which went public on June 5, is behind the USDC (USDC) stablecoin, a digital asset redeemable 1:1 for US dollars. The token will be natively deployed on HyperEVM, Hyperliquid’s smart contract layer.