Circle Cements Hyperliquid Dominance with Native USDC Launch Amid New Rival Stablecoin
As Hyperliquid prepares to launch its new native stablecoin, USDH, established player Circle is reinforcing its own dominance on the derivatives platform.
Circle has announced the native issuance of USDC on Hyperliquid, coupled with a strategic acquisition of HYPE tokens to become a direct stakeholder.
The move ensures USDC remains the foundational stablecoin for the ecosystem, which already holds $6 billion of its reserves. By deploying its native coin and cross-chain protocol, Circle is creating a seamless user experience that will be difficult for the new, yet-to-launch USDH to immediately rival.
Hyperliquid’s governance rules require existing stablecoins to meet high staking thresholds to remain as quote assets, a barrier Circle’s new investment appears designed to clear effortlessly.
