Circle announces the arrival of USDC natively to the Hyperliquid network

Circle Integra USDC natively in Hyperliquid and strengthens its presence in the ecosystem of decentralized derivatives.

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• Circle It will carry your stablcoin USDC native to Hyperliquid through Hyperevm
• Will also integrate its protocol into this network CCTP V2.
• The company invested in the Token Hype and could become validated Hyperliquid.
• This integration coincides with the creation of USDH, a new native stablecoin administered by Native Markets.

Circle, Stablecoin broadcast company USDC, He announced that he will carry a native version of his token to Hyperliquid, the largest platform of decentralized derivatives. The movement occurs while the company becomes “Direct shareholder” of said ecosystem Blockchain, This through its first investment in the Token Hype

According to a publication on the official blog of Circle, Integration will begin with the launch of USDC on the network Hyperevm, compatible with Ethereum, And it will be expanded to Hypercore In the coming weeks. This was reported by Jeremy Allaire, CEO of the company, indicating that the improved protocol will also be implemented Cross-Chain Transfer Protocol (CCTP V2) within Hyperliquid.

At the moment, USDC It is the dominant stable in Hyperliquid, with almost USD $ 6,000 million in reservations maintained on the platform, according to data from Defill. This figure highlights the importance of Token for decentralized derivatives operations.

Competition for a native stablecoin for Hyperliquid

The announcement of Circle It occurs shortly after an intense competition of a week to create a native stable aligned with Hyperliquid, Under the ticket USDH Native Markets, A startup co -founded by an early collaborator of the network, won the tender to administer reservations in USD in said ecosystem and issue the currency in question.

USDH will be launched gradually in Hyperevm, Starting with a small -scale test phase before opening a pair of negotiation USDH/USDC. With this plan, Hyperliquid It seeks to consolidate an own stablecoin without excluding other emitters.

By announcing the winning proposal, Hyperliquid confirmed that USDC and other Stablecoins will remain admitted as contribution assets provided they meet certain requirements. Among them are a 200,000 stake Hype (approximately USD $ 10 million), a solid mechanism of parity with the dollar and a minimum depth against USDC and Hype

Technological expansion and new incentives

Circle He affirmed that native integration will reduce barriers so that users of Hyperevm transfer USDC Through more than a dozen compatible networks, thus facilitating exchanges between chains. In addition, planned support for Hypercore will allow Fintechs, entry and exit ramp providers and other services to integrate with Hyperliquid.

The company also stressed that it will launch a “Comprehensive program” To collaborate with the developers of Hip-3 and Hyperevmtogether with new dedicated incentive programs to promote the use of USDC Circle is evaluating to become a validator of Hyperliquid and explore other contributions to the ecosystem.

“We are looking to build value for long -term shareholders, and that means investing in products and distribution while we work towards an internet economy that could support hundreds of billion dollars in economic activity,” Declared Allaire.

The position of Circle In the market

In June, Circle debuted in the New York Bag (NYSE) in one of the most prominent initial public offers of the year.

The company sold 34 million shares to raise USD $ 1.1 billion and its action closed with a rise of more than 200 % on its first day of negotiation. However, some analyzes have shown reservations on this value in the face of the increase in competition between Stablecoins emitters after the approval of the Genius Act and the increase in the distribution costs of Circle.

USDC operates in about two dozen networks, including Algorand, Aptos, Arbitrum, Avalanche, Base, Cess, Codex, Ethereum, Hedera, Linea, Near, Noble, Op Mainnet, Polkadot, Polygon Pos, Sei, Solana, Sonic, Stellar, Sui, Unichain, World Chain, XRP Ledger and Zksync. In total, more than USD $ 73,000 million circulates in USDC

Hyperliquid It is the largest on-chain derivatives platform, with almost USD $ 150,000 million in volume of monthly transactions in September, of a total close to USD $ 200,000 million, according to market data.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, Created with artificial intelligence, for free use, licensed under public domain.

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